I am also showing and explaining how to calculate your own inflation rate-Why? The short answer is that inflation rates are based on nationwide price level changes. However, if you live in NY or NYC (currently one of the most expensive cities in the country). you don7 pay the same prices and experience the same inflation as those living in ldaho, or South Carolina or other statesicites for instance. There are other foctors as well and I elaborate in my lecture video I am using hands-on applications and examples with real-time data directly from the BLS (Bureau of L.abor Statstics) in my lecture notes and video which are not avalable in the texibook. All portinent files are uploaded in the unit folder. Have a great day