Examlex
Use a calculator to find a value for to four decimal places.
Rate of Inflation
The inflation of general prices for goods and services in an economy over a particular period of time.
CPI
A measurement known as the Consumer Price Index tracks the change in average costs for a variety of consumer goods and services, including but not limited to transportation, medical care, and food, through a weighted average formula.
Basket of Goods
A selected set of products and services used to measure changes in prices and inflation over time.
Deflation
A decrease in the general price level of goods and services, often indicative of a reduction in the supply of money or credit in the economy.
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