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2.1.2 Inflation

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Question 5

With reference to Figure 2, explain how the Consumer Price Index (CPI) inflation rate is measured. Refer to the concept of weights in your answer.

Figure 2: Canada's inflation rate as measured by annual percentage changes in the Consumer Price Index (CPI), January 2022 to December 2022

MonthInflation Rate (%)
Jan 20225.1
Feb 20225.7
Mar 20226.7
Apr 20226.8
May 20227.7
Jun 20228.1
Jul 20227.6
Aug 20227.0
Sep 20226.9
Oct 20226.9
Nov 20226.8
Dec 20226.3
[5]

2.1.2 Inflation Questions

  1. A Level
  2. /Economics
  3. /2.1.2 Inflation