Define the inflation rate, followed b ...Read more
Define the inflation rate, followed by a clear table or bullet list showing quarterly or yearly trends over the past 2β3 years, along with an explanation of how itβs calculated (e.g., CPI, PCE). Include a comparison of inflation in the UK, Canada, and Australia.
Read less
Inflation rate is a measure of how the prices of goods and services increase over time. It represents the percentage change in the average price level of a basket of goods and services.The most common way to calculate inflation is by tracking the Consumer Price Index (CPI) or the Personal ConsumptioRead more
Inflation rate is a measure of how the prices of goods and services increase over time. It represents the percentage change in the average price level of a basket of goods and services.
The most common way to calculate inflation is by tracking the Consumer Price Index (CPI) or the Personal Consumption Expenditures (PCE). CPI measures the average change over time in the prices paid by consumers for a market basket of consumer goods and services, while PCE tracks changes in the prices of goods and services purchased by households.
Here’s a simplified table showing quarterly inflation trends over the past 2-3 years in the UK, Canada, and Australia:
UK Inflation Rates:
– Q1 2019: 1.9%
– Q2 2019: 2.1%
– Q3 2019: 1.7%
– Q4 2019: 1.4%
– Q1 2020: 1.5%
– Q2 2020: 0.8%
– Q3 2020: 0.7%
– Q4 2020: 0.6%
– Q1 2021: 0.7%
– Q2 2021: 2.0%
– Q3 2021: 3.1%
Canada Inflation Rates:
– Q1 2019: 1.9%
– Q2 2019: 2.2
See less