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measures of Econ performance
2.1.2- Inflation
part c- limitations of CPI in rate of inaltion
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Cards (4)
what's a limitation of RPI?
excludes all households
in top
4%
of
incomes
what's a limit of CPI?
covers
a
broader
range of
pop
but doesn't include
council tax
or
mortgage interest payments
info given by
households
in
Living Costs
and
Food
survey can be
inaccurate
how often does the basket of goods change?
changes once
a
year-
may
miss some short-term changes