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!
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.
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!
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
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
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.
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?
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
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.
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.
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.
This six minute video gave me a far better understanding of CPI and inflation rate than my professor's 45 minute one. Thank you!
my inflation rate in 2018 is 24.8 but in the video the answer is 10.25?
Facts bro teachers should put or share this kind of videos to student instead of them talking for 45 minutes
All best your mind works faster when you are having exams next day 😂😂
I agreeeeee 🥰🤍
@@paulg.3475 ...m
L
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!
I am glad the video helped!
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.
That is great news to hear! Thanks for watching!
Thanks for this course l really get something about CPI and inflation rate watching this video is more than spending 10 hours with lecturer
wow this is the best cpi explanation i've watch easy to understand i subscribed already
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.
That is good to hear. Thank you for watching!
I love this style of presentation - very simple, shows all the relevant math, no extra monologue - which makes for "easy to remember", many thanks!
Finally I got clearity of my concepts in some extent. Thank you
Just amazing,,
I Have understood clearly.
From Bangladesh as a student of Economics. Thanks a lot for giving easy solution of CPI.
This video is extremely helpful in understanding CPI and inflation rate.
By far the best video explaining how to calculate inflation 🔥👏
Thank you for that!
This was extremely helpful, thank you!
Explained better than my professor. Thank you!
For real,
This explanation is very simple and easy to understand,thanks very much.I fully understand it now.
Thankyou so much sir ....Lots of love from BHARAT (INDIA)🎉
thanks for super clean, simple and easiest way to teach us
Thanks, heading for exams tomorrow, this has been great 👌
Best one for understanding CPI math ❤🇧🇩
OMG THANK YOUU!!! Because of you, I'm so certain to get an A for economics tomorrow❤
this was very helpfull, you made it easier for me in 6 minutes
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
Awesomeness this is called good teaching 🎉
THIS VIDEO WAS TRULLY HELPFUL THANK
I only came here to find an answer to the question "does quantity matter in later years when calculating CPI?". Got it answered quickly!
best explanation on youtube. thank you!
Your the best 😭🙌🏼🙌🏼🙌🏼
Thank you so much!
Exactly what needed thanks!
You are welcome!
Im drinking coffee at campus 20 mins till my midterm and I think I’m going to repeat this course. Yolo
Whuch college are you in
very clear video sir.
Thank you for the feedback!
Thank you for this very clear explanation
The best soo far🙌
Thanks that helped it was very clear and easy to understand.
Best explanation I love that 👍
thank you sir.
this video is help full.
You are very welcome!
Thank you very much , that was so helpful !!
Thank you! For some reason it's some big freakin secret that I have to figure out on my own in my macro course.
How's base year in cpi & inflation rate is different
Thank you for a very wonderful lesson!
Thank you so much for your concise video
You're a lifesaver 😊
I appreciate the details. Thank you. ^^
Thank you, it's so clear
thnK YOU VERY MUCH
FOR
THIS CONTENT
Thanks alot I'm having exam on Monday
You doing great man.
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!
But what if the quantities do change? Will you go about it the same way?
Thank you for making this video. :)
This is a very helping video
Thanks alot this has been helpful
Thank you so much ✌🏼💯
Thank you so much! I now understand something that always confused me.
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
Very helpful, wow😮😊
So helpful, thanks.
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
Should be ending CPI values for 2 periods
thank you for good video i hope you will make more video for everyone that watch
Hello
if i have different quantities for the years, do i still calculate it the same way?
I also wanna know
I have the same question...
Best video on this topic online!
what if we are given a table with different quantities for each year? Does the process change, or is it the same?
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.
Is the quantity what they call relative importance?
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?
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
Very helpful
extremely useful...great explanation
hell yea ! understood in less than 10 mins
Same here
Can the inflation rate be negative?
Yes, it can be negative.
Does it indicate disinflation?
So the inflation rate is the change in CPI from year to year?
Inflation rate is calculated using yearly CPI?
The annual inflation rate is the PERCENTAGE change in the CPI from one year to the next.
what about annualised rate of inflation?
how do choose a year as the base year
We hard very hard way for CPI computation.awesome the problem solved
how we measure inflation when we have CPI that thier base years are different?
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
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.
@@EconomicsinManyLessons i will think about consumer survey and if i have any doubt then i will ask u sir ,,
Easier to understand. Thanks man!
Is the CPI growth the same thing as the CPI
i have to do this shit for my law school entrance exam (I hate my eastern euro country so much) thank you man
very helpful
how to calculate sensitive price index
thanks bro!
Thank you❤️
you did good but your voice sound is low. Thank you
Sir if they did give year in equation
This was really helpful
Quick question, is the basket of goods of the base year or the newest basket of goods used in the calculation?
basket is fixed
The cost is changin over years pls check again
good vid
I have quantity for the other years too
What if the quantity is not fixed for all years?
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.
What about 2016
hi is there any difference if i were to use 2018 as my base year and work backwards?
Very clear to understand.
thank you sir
The cpi are those percentages or what ?
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.
Is housing mortgage or rent included in Canada?
Please uplod for wpi .
Thanks! it is very useful.
Good work
Volume is really low.
Isn’t the CPI Number the same thing as the GDP?
Very helpful, thank you