Measuring inflation
Measuring inflation
Inflation is a sustained increase in the general price level, which reduces the purchasing power of money. It does not mean that every price rises by the same percentage.
Step-by-step lessons on OCR GCSE Economics 3.4.5 Causes and consequences of inflation. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.