MYTUTOR SUBJECT ANSWERS

582 views

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 ...

12 months ago

Answered by Mrinank, a GCSE Economics tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

81 SUBJECT SPECIALISTS

£18 /hr

Joe H.

Degree: Politics, Philosophy and Economics (Bachelors) - Oxford, St Hugh's College University

Subjects offered:Economics, Politics+ 11 more

Economics
Politics
Philosophy and Ethics
Maths
History
Government and Politics
English Literature
English Language
.TSA. Oxford.
-Personal Statements-
-Oxbridge Preparation-

“Hi, I'm Joe, I study PPE at Oxford and I'm ready to help you improve your grades!”

MyTutor guarantee

£18 /hr

Alexandra L.

Degree: Ba Geography with Spanish (Bachelors) - Exeter University

Subjects offered:Economics, Spanish+ 1 more

Economics
Spanish
Geography

“Hard-working, outgoing, conscientious, caring, motivated, friendly, approachable”

MyTutor guarantee

£18 /hr

Joshua D.

Degree: Economics and Mathematics (Bachelors) - Bath University

Subjects offered:Economics, Science+ 2 more

Economics
Science
Physics
Maths

“Enthusiastic tutor from the University of Bath, aiming to push pupils to achieve the best that they can.”

About the author

£30 /hr

Mrinank S.

Degree: Engineering (Masters) - Cambridge University

Subjects offered:Economics, Physics+ 3 more

Economics
Physics
Maths
Further Mathematics
.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...”

You may also like...

Posts by Mrinank

Two identical uniform spheres each of radius R are placed in contact. The gravitational force between them is F. They are then separated until the force between them is one ninth of the magnitude. What is the distance between the surfaces of the spheres?

What is inflation?

Other GCSE Economics questions

Why are UK government gilt (bond) yields rising and why is that bad?

What is inflation?

Explain what the possible results could be from increasing the Euro/US dollar exchange rate (you are Euro)

What is the Marshall Lerner Condition?

View GCSE Economics tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok