The Macroeconomic assignment

Macroeconomic
assignment
Inflation and consumer price index

Institution for the determination of
good basket
The Philippines Statistics
authority determines the
basket and the products that
comprises the basket.
Generally after every 24
months the consumer basket
is updated to include and
exclude some of the goods.
The base year used for the
calculation of the CPI for this
country is 2012.

Comparison of the basket of
goods
Both the basket of the goods of
Canada and Philippines include
the basic thing which food and
shelter in different forms.
However, while the basket of
Philippines include restaurant
as an item, it is not the case for
Canada.
Other than that most of the
items are common and basic in
both the baskets.