Video tutorial illustrating how to calculate the rate of inflation faced by consumers through a consumer price index (CPI) by creating of a weighted price index using a set of data provided
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* Consumer price index (CPI) (at time 0:07) is a measure of the cost of living for the average consumer in an economy. It compares the value (average price) of all items in a "basket" of goods & services (average consumer consumes) in one year with the value of the same "basket" (items in the basket, weights held constant) in a base year. Inflation, disinflation, deflation are measured as a %Δ in the value of the basket form one year to another.

* U.S. Bureau of Labor Statistics: Consumer Price Index: [ Ссылка ]
* At time 0:19
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* CPI minus the volatile prices of food and energy, time 2:08
* The volatile price of food & energy is a result of PED, PES being less than 1, inelastic demand & supply
* Food & energy are primary commodities, which have inelastic supply, demand curves
* For an explanation, see the following EZ NOMICS video tutorial on PED, PES values of primary commodities vs. manufactured goods
* [ Ссылка ]
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* Additional video tutorials regarding PED, PES, & Competitive Supply in the context of the Russo-Ukrainian War
1. 2.5 (Micro) Real World: Russo Ukraine War: Wheat: PED (inelastic) & Total Revenue
* [ Ссылка ]
2. 2.5 (Micro) Real World: Russo Ukraine: Wheat: MENA: PES (inelastic)
* [ Ссылка ]
3. 2.5, 2.6 (Micro) Real World: Russo Ukraine: Food: Non-price determinant: Supply Shock
* [ Ссылка ]
4. 2.2 (Micro) Competitive Supply (Wheat, Rapeseed): Non-price determinant supply: Russo Ukraine
* [ Ссылка ]
5. 2.2 (Micro) Competitive Supply (Wheat, Soybeans); 2.5, 2.6, 2.11: Perfect Competition: Russo Ukraine
* [ Ссылка ]
6. 2.2 (Micro) Non-price, Competitive Supply (Wheat, Soybeans); 2.5, 2.6, 2.11: Perfect Competition: Russo Ukraine: Price Falls
* [ Ссылка ]
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Contractionary monetary policy to address cost-push inflation video tutorials
1. 3.2, 3.3 (Macro): Real World: 2023 Global Recession: US Deflationary: Phillips Curve: Reduced AD, SRAS inflation
* [ Ссылка ]
2. 3.5, 3.6 (Macro) Demand-side policies: Evaluation demand-side with cost-push inflation (3.3): Part 1 of 2
* [ Ссылка ]
3. 3.6, 3.7 (Macro) Demand-side policies: Evaluation demand-side with (3.3) cost-push inflation: Part 2 of 2
* [ Ссылка ]
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Consumer Price Index, constructing a weighted price index (calculations), time 5:58
* Calculating the value of the basket in the year 2020, time 8:05
* Price of food & non-alcoholic beverages in 2020: $10.35 x 5 = $51.75
* Price of housing, water, electricity, gas & other fuels in 2020: $13.81 x 8 = $110.48
* Price of transportation in 2020: $11.15 x 4 = $44.60
* Price of clothing & footwear in 2020: $10.39 x 3 = $31.17
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* Calculating the value of the basket in the year 2021, time 9:15
* Price of food & non-alcoholic beverages in 2021: $10.75 x 5 = $53.75
* Price of housing, water, electricity, gas & other fuels in 2021: $14.96 x 8 = $119.68
* Price of transportation in 2021: $11.27 x 4 = $45.08
* Price of clothing & footwear in 2021: $10.45 x 3 = $31.35
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* Calculating the value of the basket in the year 2022, time 10:33
* Price of food & non-alcoholic beverages in 2022: $11.75 x 5 = $58.75
* Price of housing, water, electricity, gas & other fuels in 2020: $16.21 x 8 = $129.68
* Price of transportation in 2022: $12.52 x 4 = $50.08
* Price of clothing & footwear in 2022: $11.12 x 3 = $33.36
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Total cost of the basket for year year, at time 11:46
* Total cost of the bast for 2020, at time 11:52
* $51.75 + $110.48 + $44.60 + $31.17 = $238.00
* Total cost of the bast for 2022, at time 12:35
* $53.75 + $119.68 + $45.08 + $31.35 = $249.86
* Total cost of the bast for 2020, at time 13:11
* $58.75 + $129.68 + $50.08 + $33.36 = $271.87
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Creating a weighted price index, time 13:47
* Weighted price index formula: (Cost of the basket in a particular year / Cost of the basket in the base year) x 100
* Weighted price index in 2020 (base year), time 15:27
* ($238.0 / $238.0) x 100 = 100.0
* Weighted price index in 2021 (base year), time 16:14
* ($249.86 / $238.0) x 100 = 104.98
* Weighted price index in 2022 (base year), time 17:08
* ($271.87 / $238.0) x 100 = 114.23
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* %Δ = ((Final value - Initial value) / Initial value) x 100, time 18:30
* %Δ 2020 to 2021 = ((104.98 - 100.0) / 100.0) x 100, time 19:00
* %Δ = 4.98%
* %Δ 2021 to 2022 = ((114.23 - 104.98) / 104.98) x 100, time 19:42
* %Δ = 8.81%

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