Calculating a Consumer Price Index (CPI)

What is the CPI and how is it determined? In this video we'll demonstrate how to calculate a really simple CPI using data for prices of consumer goods over three years.

[byroncampos]

I missed an entire week of school and I've learned so much in the past 5 min of watching your video than I have this school semester. Thank you!

[mahiniqbalchowdhury]

<3 You are better than any Ph.D. professor at my university.

[baliswankosi]

I'm mentioning you in my graduation speech

[thembinkosimahemu]

Am going to have a test at 14 and I must say, you are the best 💃💃💃💃💃...I have understood what I failed to understand in 2 months

[alexdavis]

simple and straight to the point... thank you....

[riteshchand]

Superb Jason, you nailed it bro, made it look so simple. Cheers

[zhanghui]

Do we need times the QUANTITY of each item to calculate? Not just use PRICE to calculate CPI

[lisaella]

Thanks a lot. This was very helpful 🙂☺

[abigaelgichaba]

Just what i needed
Thanks a whole lot sir

[elizaberthhaikokola]

You made it so simple, unlike our lecture

[shubhammanichaturvedi]

Why you have just add the prices.. instead multiplying it with the quantity of corresponding goods?I think your this approach is true when economy produces same quantity of all the three goods in base year.

[hoangsithinh]

Great work! Thanks for sharing!!! However, I did not see weight of each item used in the basket. I think the CPI would change a lot if the weights had been but in the formula.

[livk]

For the IB econ exam, if there is a question on evaluation government responses to the overuse of common access resources, which responses would you talk about?
licensing, allocation of property rights, tradable permits, taxes?
and is air considered a common access resource ?
evaluation responses like the allocation of property rights seems quite tricky to me, do you have any advice on that or resource?

[mklh.m]

Hello po sir. How to calculate and get the real consumption and real wage, do you have a video of those or can you make a video please.

[renee-oyxb]

my ap econ teacher went over this within 1 class period then expected us to know it 100% -__-

[DK-fnxr]

You have assumed that the consumer buys the same amount of each good when calculating the price of the basket of goods by adding the prices.

[Swanselm]

Yeap I’m failing my test today
I need like a whole other weak to study these concepts

[OkBud]

Two decimal placements next time doofus!!

[tibebmistwal]

You are explaining for yourself why you are too fast.you can't teach in this way be slow on your next clip please

[mayasavoie-ohara]

My teacher spent 3 classes explaining this and I still didn't understand. Thank you for making such a simplified and easy to understand version