Economic Implications of Inflation in Ireland

Inflation can have significant effects on the Irish economy, including eroding purchasing power, impacting investment decisions, and potentially leading to social unrest. Understanding the economic uses of the Consumer Price Index (CPI) and how it measures price changes is crucial in managing inflation. Ways to reduce inflation, the accuracy of CPI, causes of cost-push inflation, and the concept of deflation are also explored. The importance of weights in a composite price index for reflecting the significance of goods is highlighted.

• Inflation
• Irish Economy
• Consumer Price Index
• Economic Effects
• Price Changes

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Uploaded on Apr 04, 2025 | 0 Views

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Presentation Transcript

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2. 1 http://2.bp.blogspot.com/-BAs74obkeXY/UBL3DBdTFxI/AAAAAAAACCE/ueEc_ZC1ahc/s400/inflation.jpg Define inflation bd10264_

3. 2 http://devilsexcrement.files.wordpress.com/2011/03/effects-of-inflation.jpg State two possible economic effects of rising price inflation on the Irish economy bd10264_

4. http://v1.investopedia.com/thumbnails/live/81_Consumer-Price-Index_421x236.jpghttp://v1.investopedia.com/thumbnails/live/81_Consumer-Price-Index_421x236.jpg 3 What economic uses are made of a Consumer Price Index? (Outline two) bd10264_

5. 4 What does the CPI measure? bd10264_

6. 5 How can inflation be reduced? bd10264_

7. 6 How accurate is the CPI? Give two reasons for your answer bd10264_

8. 7 Define cost-push inflation, how might it be caused. bd10264_

9. 8 Define deflation. Outline one reason why it might be caused. http://www.businessnewsdaily.com/images/i/3339/iFF/shutterstock_78906628.jpg?1354313362 bd10264_

10. 9 In composite price index each good is assigned a weight . What does the weight reflect? bd10264_