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For those wondering like I did, CPI is Consumer Price Index. My understanding is that it’s a standardized basket of goods that supposedly represent the average
by ornornor 4y ago
For those wondering like I did, CPI is Consumer Price Index.
My understanding is that it’s a standardized basket of goods that supposedly represent the average household, and it calculates inflation on this basket on a regular basis.
This doesn’t reflect anyone’s reality however and I think a quick and dirty way to calculate your own CPI would be to check the difference year on year for all your rent and living expenses (including fuel if relevant etc) + your groceries (food toiletries etc), and figure out how has this changed year on year.