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9 Cards in this Set
- Front
- Back
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Consumer Price Index (CPI) |
A measure of the price level used across the EU and used by the BoE to measure inflation against it's target. |
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Cost-push Inflation |
Inflation caused by increases in the cost of production in the economy. |
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Creeping Inflation |
Small rises in the price level over a long period of time. |
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Deflation |
A fall in the price level. |
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Demand-pull Inflation |
Inflation which is caused by excess demand in the economy. |
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Hyper-inflation |
Large increases in the price level. Most economists agree that this inflation rate would be above 50%. |
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Price Level |
The average price of goods and services within an economy. |
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Retail Price Index (RPI) |
A measure of the price level which has been calculated in the U.K. for the past 60 years. It is used for a variety of reasons, such as the government to Index welfare benefits. |
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Inflation |
A general rise in the price level within an economy. This reduced the spending power of money. |
