Example question calculating CPI and inflation
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The CPI measures changes in the price of a 'basket' of goods and services, which measure what households are spending in capital cities. This 'basket' covers the following 11 categories of goods and services: 🟢Food and non-alcoholic beverages 🟢Alcohol and tobacco-Clothing and footwear 🟢Housing 🟢Furnishings, household equipment and services 🟢Health 🟢Transport 🟢Communication 🟢Recreation and culture 🟢Education 🟢Insurance and financial services | Australian Bureau of Statistics
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