Explain, using the information in Table 1, what has happened to the real price of public transport fares between 2012 and 2024.
Table 1: Index of CPI and public transport fares 2012–2024 (Base Year 2012 = 100)
| Year | Consumer Price Index (CPI) | Public Transport Fares Index | Average Passenger Kilometres Index |
|---|---|---|---|
| 2012 | 100.0 | 100.0 | 100.0 |
| 2015 | 104.5 | 108.2 | 101.5 |
| 2018 | 110.1 | 118.5 | 103.2 |
| 2021 | 115.8 | 131.0 | 92.4 |
| 2024 | 128.4 | 149.6 | 95.8 |
77 exam-style questions on OCR A Level Economics Inflation. Each one has a worked solution and a mark scheme showing where the marks go.