This inflation worksheet offers students an opportunity to practice calculating the inflation rate by utilizing the GDP deflator and the Consumer Price Index.

This worksheet tests the student's knowledge of how to calculate Consumer Price Index (CPI), and then use that calculation to derive the inflation rate. The student is then prompted to record an interesting findings (which there are in this particular sheet!).

Are you looking for a worksheet that focuses on inflation, the consumer price index, and purchasing power for a high school Economics class? Do you want your students to analyze the impact of inflation? This is the product for you!

To measure changes in price level (inflation/deflation) in an economy, two statistics can be used: the GDP deflator or the consumer price index (CPI). In both cases, a year of interest is compared to the base year to see how price levels have changed. The GDP Deflator is an index number that compares the nominal GDP to real GDP for a given year.

This two-part assignment gives students practice in defining and calculating inflation rates using both the GDP deflator and the consumer price index. What's included:-2 separate assignments - could be given together (total of 3 pages)-3 page answer key.

Jan 30, 2024 · Using the table you constructed, calculate the rate of inflation between Year 1 and Year 2.

This document provides practice problems related to calculating and understanding CPI, inflation rates, and real GDP. It includes a table to calculate market basket costs and CPI indexes for different years. It then calculates inflation rates between the years and provides the formulas.

The primary usefulness of calculating a CPI is to use the index numbers to calculate inflation rates of (consumer) goods and services. CPI measured inflation informs the world of the effect of fluctuating prices on the average household.

Use that information, the Consumer Price Index (CPI) Inflation Calculator, and the U.S. Department of Labor’s minimum wage webpage to answer the questions in the “Changes in buying power” section.

2) Causes of Inflation with real-life examples 15 minute video activity (includes link and corresponding worksheet). 3) Student reference sheet on how to calculate the CPI (Consumer Price Index) and Inflation rate with practice activity /worksheet.