Hi, I need help with a reply or a comment to each post but in economics terms.?

First post: breaking down inflation separately for consumer versus producer was much more digestible to understand how inflation occurs because we are breaking down almost every sector. For consumers, use CPI (Consumer Price Index) which is the most widely used way to measure the cost of living. It automatically adjusts wages, taxes, Social Security, and etc. to compensate for inflation. For producers, use PPI (Producer Price Index) which measures each price of inputs in the production process.

Hint: discuss how CPI or PPI is actually used. Is it used in your work? It would be great to hear how. If not, who uses this stuff?

Second post: For the basket goods model; despite it being an imperfect measure, the graph illustrates the percentage of consumption amongst several products. Increased inflation can increase and decrease certain elements seen in the model. Unemployment also has effects on the same model of consumption along with impacting the value behind money. Understanding and adjusting for inflation and unemployment can produce semi-accurate data for the future of the economy. The effects of unemployment are helpful statistics in understanding how large and efficient the workforce is currently, but also how productive it's becoming. With a general 5% unemployment, we can tell the economy is doing a very proficient job at providing jobs to citizens. These job acquisitions from unemployed people then become important with correspondence to inflation as businesses adjust for an incoming workforce. Inflation is impacted by various things such as rising wages, demand-pull, and increased money supply. By noting these key details, we will likely see further price increases in products due to better technology, more labor, and the value of money changing.

Hint: it would be easy to discuss how choosing the basket of goods can change the inflation we calculate. Why would changing the basket do that?