Inflation

Concept and Measurement of Inflation

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Carys Brown

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Inflation
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Inflation is defined as a noticeable rise in the price level of goods and services across a nation in a given period of time. Inflation is measured using the Consumer Price Index (CPI.) This measurement is a calculation of the weighted average of the an average 'basket' of consumer's goods and services. The average changes in these prices is used to calculate the rate of inflation. This is shown by the formula below:

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Concept and Measurement of Inflation
Headline and Underlying Inflation
Types of Inflation
The costs and benefits of Inflation

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