One average number does not capture the experience of a senior citizen, a family in a rental, or a person who commutes by car every day. Each household buys a different combination of goods and services, and therefore may experience the same price increase completely differently.

Official inflation is based on a consumer basket, while the family budget is made up of specific rent, energy, food, transport and other regular expenses. A comprehensible explanation must connect statistical data with model households without questioning the accuracy of the statistics or trivializing people’s life experiences.

How is the consumer basket compiled and what does average inflation really say? Why do households with high rent, utility or transport costs feel inflation differently? Should the state publish more model inflation baskets for different groups? And how can households and businesses work with personal inflation when planning their budget and wages?