Calculating Inflation using a CPI
HTML-код
- Опубликовано: 28 сен 2024
- 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.
More resources for economics students and teachers at econclassroom.com
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
are you doing hsc aswell?
@@knightwik i did it last year
@@knightwik zf
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
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!!!
THANK YOU! Your energy and explanation is exactly what I needed greatly appreciate your time and work!
Very Useful and straight to the point !👍
i was so stressed on how to do this, it made is so much easier thank you :)
Thank you, made it so easy
Need more people so spread this video more
Your videos have been so helpful. Thank you!
thanks for all the help !
you explain this so fluently thank you
When inflation decreased...does it mean it dropped from 28% or we just use -4.5% and leave it at that..
assume each have quantities and next year as the price raise the quantity decrease. can you calculate inflation rate even with different quantity?
You're a real life saver man!
Really helpful video, thanks. Is this real inflation we are calculating or nominal inflation?
That was nominal inflation, for real one you have to use the base year c. P. I.
@@abhradeepgoswami3706 Hi can you guide what is base year means?Let say i have purchased a spare parts in YR2016 and now in YR2021 i am purchasing the same spares.....The price would have increased and i would not have savings in reality....To bring the Yr 2016 price to present value as of YR2021....i need to calculate the CPI from YR 2016 to YR2021 in order to compare with current pricing....The spares CPI is based on the commodity of the spares made of rite.Can you please guide.
very clear.. THANKS FOR THE TUTORIAL
What is disinflation?
Why we didn’t use 2017 as base year for 2018 while calculating CPI for 2018 why was it still 2016?thanks
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
Thank you!👍
whats the name of the song at the end lol
Some segments in the video are stamped not adjacent to each other
Thank you so much this saved me :D
Thanks for this!
Inspiring
Thank you so much.
I'm good. Thx
Index of retail price
👍
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.
Original Problem: Consider 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.
test tmr and I didn't know how to do this lol
Oh my god, my teacher keep using different words to say "past year". Im Filipino and theres a lot of words that means "last year" but some words have meaning like "last years" or "base year". I hate this, not this video, my school.
Thank you for doing these videos! Much love during these trying times.
You make everything so SIMPLE.Thanks man!
I just want to say Thank you for doing these videos!
Juan Marin me too
You're a 100 times better than my teacher. He explains like sh*t. Thank god you exist I can finally understand!!!!!
How we can calculate the base year into inflation rate?
I appreciate you taking the time to pass on the knowledge!!
I can't read your handwriting, please make it clear enough sir
saving lives truly
Thank you
You make everything so SIMPLE.Thanks man!
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.
Very good and funny videos bring a great sense of entertainment!
You are exceptionally good at teaching my brotha!
good stuff Jason
धन्यवाद
thank you
Wouldn’t it be 128%
?
i dun think so it would 100% is for $16 and it just needs the percentage change between $16 to $20.50