Calculating Inflation using a CPI

In our last video we learned how to calculate a consumer price index using price data over three years. In this video we'll use the CPIs to calculate the rate of inflation.

[henrykermond]

i do distance education economics for highschool so my teacher isn't able to help much. these videos make it so much easier to understand the concepts and apply them in exams

[_edem]

You make everything so SIMPLE.Thanks man!

[Sbeverege]

Thank you for doing these videos! Much love during these trying times.

[benjamindaviddaka]

I have an exam on Monday and I didn't have an idea on this, in just 3 minutes am able to understand and solve some past papers.. thank you so much

[josefk]

This is way better than my university’s classes and the best part is we aren’t being forced to use MindTap from the criminal syndicate Cengage!!!

[idalimartinez]

THANK YOU! Your energy and explanation is exactly what I needed greatly appreciate your time and work!

[newgenexo]

Very Useful and straight to the point !👍

[Littlestrawberii]

i was so stressed on how to do this, it made is so much easier thank you :)

[carmenmcintosh]

Need more people so spread this video more

[SpeakingMyTruth]

Your videos have been so helpful. Thank you!

[diegocenicerosdominguez]

you explain this so fluently thank you

[franciswarutumo]

When inflation decreased...does it mean it dropped from 28% or we just use -4.5% and leave it at that..

[gary]

assume each have quantities and next year as the price raise the quantity decrease. can you calculate inflation rate even with different quantity?

[monatahan]

Love and greetings. I’m wondering if calculating CPI is the same as calculating RPI. I know that one is arithmetic while the other is geometric, ​however, I cannot find videos explaining how retail price index calculations would be different than consumer price index calculations.

[sashacollington]

Really helpful video, thanks. Is this real inflation we are calculating or nominal inflation?

[OluwaseunAjayi-fgvb]

Why we didn’t use 2017 as base year for 2018 while calculating CPI for 2018 why was it still 2016?thanks

[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 or resources?


ANTWORTEN

[monicaguzman]

whats the name of the song at the end lol

[BaoNguyen-yoip]

Some segments in the video are stamped not adjacent to each other

[hazelwilliams]

My professor gave my class this, WHAT IS 2015!!! so mad!! Bellow I will post the original question that links to this one --> Calculate inflation rate between 2014 and 2016. Show your calculations. Round the answers to 2 decimal points. Show the unit of account of your answers.
an economy that produces three products: fish tacos, wine and baseball hats. The cost of market basket in 2012 was $56, 240. The cost of market basket in 2014 was $61, 225. The cost of market basket in 2016 was $69, 217.5. Consider 2012 as the base year for all of your CPI calculations.
a)              Calculate CPI in 2014. Show your calculations. Round the answers to 2 decimal points. Show the unit of account of your answers.