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What is inflation?

We all know that in general that prices change: we see the price of fuel changing up and down as we see exchange rates. Inflation tries to capture this.

Inflation is defined as an increase in the general level of prices,  eroding the value of money.

Inflation is measured using the CPI and RPI indices and mathematically is the percentage change per annum in these price indices. 

Mrinank S. GCSE Chemistry tutor, GCSE Physics tutor, A Level Physics ...

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Mrinank S.

Degree: Engineering (Masters) - Cambridge University

Subjects offered: Economics, Physics+ 5 more

Economics
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Maths
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.PAT.
-Oxbridge Preparation-

“Hey there! I'm a second year undergraduate student at the University of Cambridge, studying Engineering. I am really passionate about using science and maths to make the world around us a better place.  I am a patient and friendly tu...”

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