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2.1.2 Inflation

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Question 17

With reference to Figure 1, explain how the Consumer Price Index (CPI) inflation rate is measured. Refer to the concept of weights in your answer.

Figure 1: United Kingdom's annual CPI inflation rate (%), January 2023 to December 2023

MonthInflation Rate (%)
Jan 202310.1
Feb 202310.4
Mar 202310.1
Apr 20238.7
May 20238.7
Jun 20237.9
Jul 20236.8
Aug 20236.7
Sep 20236.7
Oct 20234.6
Nov 20233.9
Dec 20234.0
[5]

2.1.2 Inflation Questions

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