‘Achieving price stability is a primary objective of monetary policy, yet measuring cost of living changes accurately remains a complex task.’
Explain how the rate of inflation is measured in the UK using indices such as the Consumer Prices Index (CPI) and the Consumer Prices Index including owner occupiers' housing costs (CPIH).
187 exam-style questions on AQA A Level Economics 2.1 The measurement of macroeconomic performance, covering 2.1.1 The objectives of government economic policy, 2.1.2 Macroeconomic indicators, 2.1.3 Uses of index numbers, and 2.1.4 Uses of national income data (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.