ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -To keep inflation low and stable, the Government sets us an inflation target of 2%. This helps everyone plan for the future. If inflation is too high or it moves around a lot, it’s hard for businesses to set the right prices and for people to plan their spending.
Detailed explanation-2: -“It was invented, oddly, in New Zealand, ” said Ball. So, CNBC called up some New Zealand economists. “We led the way in inflation targeting, ” Arthur Grimes, professor of wellbeing and public policy at Victoria University, told CNBC.
Detailed explanation-3: -The CPI inflation rate was 10.5% in December 2022, down from 10.7% in November. October’s figure of 11.1% was the highest rate recorded since the data series began in 1997. The ONS estimated that CPI in October was higher than at any time since October 1981.