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What is Inflation Basket

Chapter 16
Managing Inflation and Supply Chain Disruptions in the Global Economy
Is the collection of goods and services that will be used to measure and report inflation. It is a matter of discretion how this bucket should be updated, and weights do naturally change as the prices increase disproportionately.
Published in Chapter:
Will BRENT Reach the $300 Mark?
Ulas Akkucuk (Usak University, Turkey)
Copyright: © 2023 |Pages: 11
DOI: 10.4018/978-1-6684-5876-1.ch016
Abstract
Petrol crises have crippled the economies of the developed nations may times in modern history. Still, fossil fuels are an important source of transportation, and price changes deeply affect the social and economic wellbeing of the citizens. While research on alternative fuels is on the rise and there are many incentives, the reliance on fossil fuels is not diminished. Lately, as a result of the conflict in Ukraine, petrol prices went up again. This chapter will shed light on the past crises and will try to examine how much further petrol prices can go. Also, the relationship between energy prices and subjective wellbeing will be illustrated with examples from the literature. The chapter will also offer some suggestions for a sustainable green world.
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