when or what is cpi for 2023
PS how do i you give a thumbs up to a reply .. couldn’t see how to ?
No clarification needed.A small clarification based on the link.
Thanks for your replies.. 4% I’d be thinking so …
No clarification needed.
The question was in regard to the CPI for the full year, not specifically December.
The annual average rate of inflation in 2023 was +6.3%. This compares to an increase of 7.8% for 2022 and an increase of 2.4% for 2021.
The level of prices at the end 2022 was 94.8. the level of prices at the end of 2023 was 100. The difference between the two is how much prices have increased over that time i.e., inflation attributable to 2023. In percentage terms that change is 4.6%You are quoting the index in December 2023 compared to the index in December 2022 which is 4.6%.
I am quoting the average for the index across all 12 months in 2023 compared to the average for the index across all 12 months in 2022 which is 6.3%.
The latter is, in both common and technical parlance, the inflation rate for 2023. The CSO even says:
The CSO quotes both monthly and annual as both are relevant for different purposes.
A lot of this is moot until the OP clarifies what the wording of their product is.
There is no dispute about this.The level of prices at the end 2022 was 94.8. the level of prices at the end of 2023 was 100. The difference between the two is how much prices have increased over that time i.e., inflation attributable to 2023. In percentage terms that change is 4.6%
The question was asked by a layman (albeit an aristocrat)Both in technical and layman’s terms...