Today, Good News Inflation CPI has decreased to 2.3%, lower than expected.
So what is CPI???
CPI inflation is the overall increase in the prices of goods and services consumed, measured by the Consumer Price Index (CPI). This is one of the most common ways to measure inflation in the economy.
Specifically:
• CPI (Consumer Price Index) reflects the price changes of a typical "basket of goods and services" that consumers usually purchase, including: food, housing, healthcare, education, transportation, entertainment,…
• When CPI increases, it means that the average prices of items in that basket of goods are rising, and inflation is occurring.
• The CPI inflation rate is usually calculated as the % change in CPI compared to the same period last year (this year compared to last year).
The role of CPI inflation:
• Helps the government and central bank to formulate appropriate monetary policies.
• Helps people understand how the purchasing power of money changes over time.
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