University of America Samoa GDP Unemployment and Inflation Paper

Description

Topic/s of Primary Focus:  GDP, Unemployment and Inflation
(May also include content from previous topics.) 
Refer to the most recent Consumer Price Index data, for the March 2022 quarter,
published on 27/04/2022 and available at:
https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-
price-index-australia/mar-2022
Refer primarily to the data in ‘Key statistics’ and ‘Main features’ subsections.
 
Task: 
Summarise in your own words the CPI inflation rate and related data for the March
2022 quarter. Explain what is represented by this data, such that a non-economist
would better be able to understand its meaning.
 
You should in particular aim to incorporate elements of understanding that have come
from this course, such as what the ‘CPI’ measures and includes, and how this should
impact the interpretation of the data. This should provide a clearer interpretation of
the meaning behind these numbers.
 
(For example, you can imagine that you are writing a short summary article for a
newspaper that is aimed at a general audience. Although you do not need to follow
this format stylistically.)

Diagrams:
Unlike previous weeks, this task does not necessarily require diagrams. However you
may choose to use diagrams if you wish. 
If you wish to include other diagrams, tables, or figures from sources such as the ABS,
make sure that you include an appropriate reference.

Explanation & Answer:
650 Words

Tags:
Inflation

GDP

Unemployment

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