How to Calculate the Consumer Price Index (CPI) and Inflation Rate

Another example problem: • How to Calculate the C...
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This video shows how to calculate the CPI and annual inflation rate.
For more review questions and problems on the CPI: • CPI: Exam Review Quest...

[@AquaticSloth1]

This six minute video gave me a far better understanding of CPI and inflation rate than my professor's 45 minute one. Thank you!

[@paulg.3475]

my inflation rate in 2018 is 24.8 but in the video the answer is 10.25?

[@ottery2242]

Facts bro teachers should put or share this kind of videos to student instead of them talking for 45 minutes

[@Jethraya]

All best your mind works faster when you are having exams next day 😂😂

[@domondonalyssamayp.3460]

I agreeeeee 🥰🤍

[@sushil5138]

@@paulg.3475 ...m
L

[@madebymelon7133]

I was literally crying trying to figure out how to do this, it's not as complicated as I thought it was; many thanks for the clear and concise explanation!

[@EconomicsinManyLessons]

I am glad the video helped!

[@LaceySantino]

Thank you so much for your concise video. I have watched six hours of lectures from my professor to understand this exact same concept. I could not have done it without you.

[@EconomicsinManyLessons]

That is great news to hear! Thanks for watching!

[@SamTuyishime]

Thanks for this course l really get something about CPI and inflation rate watching this video is more than spending 10 hours with lecturer

[@shanaadams4456]

Thank you so much for your video. I was freaking out thinking I did my calculations wrong and watching this just instilled some confidence in myself.

[@EconomicsinManyLessons]

That is good to hear. Thank you for watching!

[@MunnyLerner]

I love this style of presentation - very simple, shows all the relevant math, no extra monologue - which makes for "easy to remember", many thanks!

[@jd6181]

wow this is the best cpi explanation i've watch easy to understand i subscribed already

[@romesakhan3601]

Finally I got clearity of my concepts in some extent. Thank you

[@mohammadashraful6092]

Just amazing,,
I Have understood clearly.
From Bangladesh as a student of Economics. Thanks a lot for giving easy solution of CPI.

[@josephmw431]

This video is extremely helpful in understanding CPI and inflation rate.

[@bobsalgado2453]

By far the best video explaining how to calculate inflation 🔥👏

[@EconomicsinManyLessons]

Thank you for that!

[@tehxing4703]

OMG THANK YOUU!!! Because of you, I'm so certain to get an A for economics tomorrow❤

[@suziebean5531]

This explanation is very simple and easy to understand,thanks very much.I fully understand it now.

[@dananjayachathuranga7113]

very clear video sir.

[@EconomicsinManyLessons]

Thank you for the feedback!

[@JulieKapi-uz1wt]

thank you and thats a nice video it really helped alot... i hope you guys can make more of this type of videos on different topics with examples

[@shantae14k]

Explained better than my professor. Thank you!

[@ediot.1012]

For real,

[@jacksonjackey5414]

Best one for understanding CPI math ❤🇧🇩

[@Sjdnemde]

How's base year in cpi & inflation rate is different

[@vishalpandit1533]

Thankyou so much sir ....Lots of love from BHARAT (INDIA)🎉

[@chrisackotia7497]

This was extremely helpful, thank you!

[@shauweiwong6223]

thanks for super clean, simple and easiest way to teach us

[@Laqhasha-Rsa]

this was very helpfull, you made it easier for me in 6 minutes

[@Nileshpandey0907]

What lucid and detailed explanation.
Hello sir this is Nilesh pandey greetings from india (Mumbai) I was randomly scrolling videos and i found your channel. This is my frist video i have watched on your channel.
Currently i am studying Final year of my graduation in economics and i am interested in learning mathematical economics. So it's request that could you please suggest some books for readings that would enhance my understanding of mathematical concept of economics. I will be really thankful to you if you response.
11/11/2023 Saturday 07:51AM

[@karladelport2949]

But what if the quantities do change? Will you go about it the same way?

[@Just_girl_therapy]

Awesomeness this is called good teaching 🎉

[@Kiwi-ik4hc]

Your the best 😭🙌🏼🙌🏼🙌🏼

[@EconomicsinManyLessons]

Thank you so much!

[@khaukhaderrick8638]

Thanks, heading for exams tomorrow, this has been great 👌

[@hibenjie]

I only came here to find an answer to the question "does quantity matter in later years when calculating CPI?". Got it answered quickly!

[@magicman2265]

Exactly what needed thanks!

[@EconomicsinManyLessons]

You are welcome!

[@kkanohi4966]

Im drinking coffee at campus 20 mins till my midterm and I think I’m going to repeat this course. Yolo

[@adithyan-o8m]

Whuch college are you in

[@Jordan-fn1cz]

what if we are given a table with different quantities for each year? Does the process change, or is it the same?

[@sonilejere4316]

Thank you for this very clear explanation

[@alexandrugeorge1573]

What i don’t understand is that they do this for each month compared to same month last year. So in January might be 15% and December 5%. Does that mean the inflation for this year was 5% or is it the average for all months from january to december . Example for 2 months… (15+5)/2 = 10.

[@corrosive9430]

Correct me if i am wrong, don't you think we don't need to multiply with 100 for CPI calculations? even though it gives same answer for Inflation rate

[@victor_ola1835]

Hello
if i have different quantities for the years, do i still calculate it the same way?

[@keitumetsemokhaneli2492]

I also wanna know

[@khadijatasveeb9818]

I have the same question...

[@akiratsun]

best explanation on youtube. thank you!

[@wawan-lbg52]

I check on Bureau of Labor Statistics website.. the CPI is calculated monthly.. the last is September 2023.
How to calculate the CPI for year 2023 compared to 2022...?
Do I need to take the everage of ech month ? total CPI each month / 12 month?
thanks

[@SalK-3S3K]

Should be ending CPI values for 2 periods

[@AYUSHKUMAR-nf2qh]

THIS VIDEO WAS TRULLY HELPFUL THANK

[@slixk0459]

Thank you

[@EconomicsinManyLessons]

You are welcome!

[@GreenspudTrades]

Is the quantity what they call relative importance?

[@Grandeur_edits]

i have a question : why not calculate the yearly inflation rate based on mark basket instead calculate the the yearly inflation rate based on CPI
just wondering would that give us a different result?

[@medanashebir6090]

thank you sir.
this video is help full.

[@EconomicsinManyLessons]

You are very welcome!

[@patrickdiaz4766]

You're a lifesaver 😊

[@JoelJackson-s1d]

Best explanation I love that 👍

[@abdulrahamantv8409]

The best soo far🙌

[@itsbeast8108]

thnK YOU VERY MUCH
FOR
THIS CONTENT

[@likaarbolishvili5098]

Thank you for a very wonderful lesson!

[@abidmehmood382]

Thank you so much for your concise video

[@MiloPerrotti]

Thanks that helped it was very clear and easy to understand.

[@Jayo73]

Thank you very much , that was so helpful !!

[@ericneal7194]

Thank you! For some reason it's some big freakin secret that I have to figure out on my own in my macro course.

[@tachahirintsoa2181]

Thank you, it's so clear

[@Sobayall]

Thank you so much ✌🏼💯

[@bikersoncall]

So the inflation rate is the change in CPI from year to year?
Inflation rate is calculated using yearly CPI?

[@EconomicsinManyLessons]

The annual inflation rate is the PERCENTAGE change in the CPI from one year to the next.

[@supreme7770]

You doing great man.

[@Br00t4lm0b]

Thank you so much for this!!! I am doing an assignment on CENGAGE and the pages didn't really explain the formulas to the questions I would get. This really helped me, thank you!

[@vahidshojaie263]

how we measure inflation when we have CPI that thier base years are different?

[@simonmwamba2845]

Very helpful, wow😮😊

[@adamrahima8780]

Thanks alot I'm having exam on Monday

[@tktgnk1188]

what about annualised rate of inflation?

[@julien994]

Thanks alot this has been helpful

[@jameskagwa251]

This is a very helping video

[@leisan5218]

I appreciate the details. Thank you. ^^

[@papunsahu6519]

Thanku somuch sir
But i have one doubt
I am in a state of confusion
And the confusion is that how the basket of goods choose
There are un numerablem goods in real in economy

[@EconomicsinManyLessons]

The goods in the US market basket are determined by the Consumer Expenditure Survey, which contains detailed information on the goods and services purchased by a random sample of consumers.

[@papunsahu6519]

@@EconomicsinManyLessons i will think about consumer survey and if i have any doubt then i will ask u sir ,,

[@nka3721]

So helpful, thanks.

[@jrmjay9478]

Is the CPI growth the same thing as the CPI

[@ediot.1012]

Can the inflation rate be negative?

[@EconomicsinManyLessons]

Yes, it can be negative.

[@sriram12thd33]

Does it indicate disinflation?

[@indrianinastika]

Thank you for making this video. :)

[@jackien404]

Thank you so much! I now understand something that always confused me.

[@engravedwithelegance3651]

Thank you so much

[@jesusalfaro7360]

how do choose a year as the base year

[@mdrahatzaman1992]

you did good but your voice sound is low. Thank you

[@anny7654]

hell yea ! understood in less than 10 mins

[@altafkhattak2]

Same here

[@dhrugohil5228]

Best video on this topic online!

[@lawrencealex8339]

We hard very hard way for CPI computation.awesome the problem solved

[@Brrriana]

Easier to understand. Thanks man!

[@vantharn8214]

thank you for good video i hope you will make more video for everyone that watch

[@aqsaejaz1799]

how to calculate sensitive price index

[@kenchan530]

Quick question, is the basket of goods of the base year or the newest basket of goods used in the calculation?

[@mehmeteminemiri6485]

basket is fixed

[@mehmeteminemiri6485]

The cost is changin over years pls check again

[@sawyersyr2739]

thanks bro!

[@shanajsteam2313]

Very clear to understand.

[@christianromay8516]

thanks you

[@ishamaheshwari4864]

extremely useful...great explanation

[@thokozirekuyera3811]

Good work

[@mannukang103]

Sir if they did give year in equation

[@bescathindwa5311]

very helpful

[@Riyaakatal]

What if the quantity is not fixed for all years?

[@digdug1577]

Yeah this is exactly the hole I saw. What year do you start what's your base year and how does the overall change in the quantity of what people buy is reflected in the CPI it looks like it's not. So essentially if we're buying one of the things That really increased in price or net inflation will be higher than what the CPI index indicates.

[@yeokenner8078]

hi is there any difference if i were to use 2018 as my base year and work backwards?

[@kenplumb9773]

Is housing mortgage or rent included in Canada?

[@sanjeevanisarkar1777]

This was really helpful

[@anthonyo1561]

I have quantity for the other years too

[@diffyart]

Thanks a lot sirr

[@livesport3885]

The cpi are those percentages or what ?

[@EconomicsinManyLessons]

The CPI is an index number it is not a percent. When the CPI increases, the price level went up. The inflation rate, which is a percentage, is calculated by using two CPI numbers and calculating the percentage change between them.

[@KenKevin-zj5js]

What about 2016

[@sheacrymble6247]

THANKS

[@FireLord4000]

good vid

[@CaydenVarnedoe]

Nice video

[@EconomicsinManyLessons]

Thank you!

[@notbasilcount1059]

i have to do this shit for my law school entrance exam (I hate my eastern euro country so much) thank you man

[@rexregisdelgado5178]

Thank you Sir,

[@vaibhavsharma6260]

Please uplod for wpi .