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Learn about the Consumer Price Index or CPI, understand what is Inflation, Deflation and how they shape a given economy. Better understand the concept with the use of practical examples and learn how to find the Consumer Price Index.
It’s GeeklyEDU by GeeklyHub Economics on board and today we’re going to talk about the CPI. Consumer Price Index is a representation of the economic indicators of all areas within a given economy if it’s a consumption-based one. It is one vital topic you should learn in order to understand how the economy works and how products price change over the years affects the economy.
We’ll solve an example where products’ price changes over the years causing Inflation or Deflation, and calculate the CPI with the use of the CPI formula.
We hope our Economics tutor helped you to get better with the topic, press thumbs up to let him know that!
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