Extract A
Forecasts for 2024 annual inflation rate (%)
| Date of forecast | Inflation rate (%) |
|---|---|
| Jan-23 | 4.80 |
| Feb-23 | 4.80 |
| Mar-23 | 4.60 |
| Apr-23 | 4.40 |
| May-23 | 4.40 |
| Jun-23 | 4.10 |
| Jul-23 | 3.90 |
| Aug-23 | 3.60 |
| Sep-23 | 3.60 |
| Oct-23 | 3.40 |
| Nov-23 | 3.20 |
| Dec-23 | 3.00 |
Forecasts for 2024 annual real wage growth (%)
| Date of forecast | Real wage growth (%) |
|---|---|
| Jan-23 | 0.50 |
| Feb-23 | 0.50 |
| Mar-23 | 0.60 |
| Apr-23 | 0.80 |
| May-23 | 0.80 |
| Jun-23 | 1.10 |
| Jul-23 | 1.20 |
| Aug-23 | 1.40 |
| Sep-23 | 1.50 |
| Oct-23 | 1.50 |
| Nov-23 | 1.70 |
| Dec-23 | 1.80 |
Using Extract A, calculate to one decimal place the percentage change in the forecasted inflation rate from January 2023 to December 2023 and identify one significant point of comparison between the forecasts for inflation and real wage growth over the period shown.
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.