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What is How to Accurately Calculate Inflation Rate about?

To calculate an accurate rate of inflation, a country must: 1) Collect prices of 600-650 commodities once a month from various outlets, assigning weights based on average spending. 2) Select a base year and assign it an index value of 100. Calculate the average weighted index for the base year and current year by multiplying weights by the index, totaling products, and dividing by total weights. 3) Determine the inflation rate by deducting the base year average weighted index from the current year inde

Author

hassanrazza1

Language

EN