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Measuring changes in the average price levels requires the use of a device called the index. It becomes difficult to track changes in the average price levels of every product and service in the economy at all times.<br><br>https://effectofinflationonukseconomy.wordpress.com/2017/07/17/how-inflation-is-measured/
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HOW INFLATION IS MEASURED https://effectofinflationonukseconomy.wordpress.com/2017/07/17/how-inflation-is-measured/
ABOUT Measuring changes in the average price levels requires the use of a device called the index. It becomes difficult to track changes in the average price levels of every product and service in the economy at all times. The UK government uses several indices to trace the price changes, including Customer Price Index (CPI) introduced in 2003 and the Retail Price Index (RPI) which was introduced in 1947. https://effectofinflationonukseconomy.wordpress.com/2017/07/17/how-inflation-is-measured/
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