Explained in plain English
How is inflation calculated?
Inflation is calculated by tracking the average price changes of a 'basket' of goods and services that households typically buy. Organisations like the ONS in the UK monitor these prices over time. If the cost of this basket goes up, it indicates inflation, similar to how Apple's iCloud+ price increases reflect rising costs in the tech sector.
Stories that explain this
Apple raises iCloud+ prices in eight countriesThis explainer came from a news story
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