Measuring Inflation: Understanding Key Indices and Personal Experiences

The video tutorial explains how inflation is measured, focusing on the Consumer Price Index (CPI) and Retail Prices Index (RPI) in the UK. It discusses the calculation of these indices, the role of the Office for National Statistics, and the importance of weighted averages based on household expenditure. The tutorial highlights the differences between CPI and RPI, particularly regarding housing costs, and provides a historical perspective on inflation trends. It emphasizes the variability of inflation experiences across different households and regions.

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