📚 Inflation: WJEC & IB Economics Revision Guide | 通胀：WJEC与IB经济考点精讲
Inflation is one of the most fundamental macroeconomic topics in both WJEC and IB Economics. Students must understand its meaning, measurement, causes, and consequences, as well as how governments and central banks use monetary, fiscal, and supply-side policies to maintain price stability. This revision guide covers all key areas required for exam success, with explicit links to the WJEC and IB syllabi.
通胀是WJEC和IB经济学中最基本的宏观经济主题之一。学生必须理解其含义、衡量方法、原因和后果，以及政府和央行如何运用货币、财政和供给侧政策来维持物价稳定。本复习指南涵盖考试成功所需的所有关键领域，并明确联系WJEC和IB课程大纲。
1. Defining Inflation and Key Terms | 定义通胀与关键术语
Inflation refers to a sustained rise in the general price level of goods and services in an economy over a period of time, typically one year. It erodes the purchasing power of money – each unit of currency buys fewer goods and services than before.
通胀是指经济体中商品和服务的总体价格水平在一段时间内（通常为一年）持续上涨。它会侵蚀货币的购买力——每一单位货币能购买的商品和服务比以前更少。
Deflation is the opposite: a persistent fall in the general price level. Disinflation describes a slowdown in the rate of inflation (prices still rise, but at a slower pace), while reflation is a deliberate policy to increase aggregate demand and pull an economy out of deflation or recession.
通缩则相反：总体价格水平持续下降。反通胀（disinflation）指通胀率下降（物价仍在上涨，但涨幅放缓）；而通货再膨胀（reflation）是指有意识地增加总需求，以使经济摆脱通缩或衰退的政策。
For WJEC, it is essential to know the UK's official target for inflation set by the government for the Bank of England: 2% CPI. The IB syllabus similarly stresses price stability as a macroeconomic objective, and students need to be able to discuss why low and stable inflation is desirable.
对WJEC而言，必须了解英国政府为英格兰银行设定的官方通胀目标：2%的CPI。IB课程同样强调物价稳定是宏观经济目标，学生需要能够讨论为何低而稳定的通胀是可取的。
2. Measuring Inflation | 衡量通胀
Inflation is primarily measured using a consumer price index (CPI). A basket of goods and services representing the average household's consumption is selected, and prices are tracked over time. The total cost of the basket is indexed relative to a base year (set equal to 100). The annual percentage change in the index represents the inflation rate.
通胀主要通过消费者价格指数（CPI）来衡量。选取一篮子代表平均家庭消费的商品和服务，并跟踪其价格随时间的变化。将篮子的总成本与基年（设定为100）进行指数化。该指数的年百分比变化即为通胀率。
In the UK, the Office for National Statistics (ONS) also publishes RPI (Retail Price Index) and CPIH (including owner-occupiers' housing costs). WJEC candidates should know the differences: CPI excludes housing costs such as mortgage interest payments and council tax, while RPI includes them and uses a different formula. The IB
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