Consumer Price Index
- Created by: Imogenbn99
- Created on: 22-11-15 12:06
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- CPI
- Consumer Price Index
- Headline Inflation
- 2 surveys
- What goods are bought and proportion of income spent on each
- Used to work out relative weighting
- Weightings are multiplied by the price and converted to an index number
- Used to work out relative weighting
- Changes in the prices of around 700 common goods (basket)
- What goods are bought and proportion of income spent on each
- Weightings are multiplied by the price and converted to an index number
- Figure used by government to set inflation targets
- 650 items
- Family expenditure survey
- Monthly basis from 6000 households
- Consumer Price Index
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