Each question in this quiz is timed.
Inflation is the tendency of prices to rise persistently (eg for more than two quarters)
How is inflation currently measured?
CPI
RPI
RPIX
RPIY
How is CPI constructed?
Living costs survey
Proportion of income used to weigh catagories
Mortgage interest payments
Amount of indirect tax
Increase in index is the percentage of inflation
VAT distorts CPI
Mortgage interest payments are included in CPI