Inflation

Inflation

• general sustained rise in prices
• measured by a change in a weighted index of prices such as CPI

Expenditure & food survey

• 7,000 households in UK
• self reported diaries of all purchases
• porportions spent weighted

Price survey

• undertaken by civil servants
• collect data once a month about change of prices of 650 most commonly used goods/ services
• price change multiplied by weights to…