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Unit 2 Macro - Analysing energy price inflation

Penny Brooks

3rd October 2013

Ed Miliband is a real hero for teachers of economics at the moment. Not only does his promise to cap energy prices provide a wonderful lesson for unit 1 (already covered on the blog in a lesson plan by Jonny Clark), but it gives an opportunity to investigate the domestic fuel component of CPI, and it's weighting, for unit 2.

I have found some data from the ONS, Ofgem, a PWC report and timetric which I have put into this powerpoint. There is data which shows the changes in prices for UK domestic consumers between 1990 and 2011, and then in more detail between 2010 and the present. A chart shows how the weighting given to different types of fuel has changed since 1998, with the weighting given to water bills for comparison, and then some data which might be used to put UK prices into perspective by giving comparative data for the EU and US. I hope you find it useful!

Penny Brooks

Formerly Head of Business and Economics and now Economics teacher, Business and Economics blogger and presenter for Tutor2u, and private tutor

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