The inflation rate can be calculated using

Question

Quizplus · Accepted Answer

Any price index can be used to calculate the inflation rate, as long as it includes a representative sample of goods and services and is calculated consistently over time. The consumer price index and the implicit price deflator are commonly used price indexes, but other indexes such as the producer price index or the import price index can also be used. The government spending price index is a less common index that measures changes in the prices of goods and services purchased by the government, but it wouldn't be the best choice for calculating the general inflation rate.

The Inflation Rate Can Be Calculated Using