The effect of inflation on each household is unique because no two households are exactly alike, and households combine the goods and services they use in different ways.

The items in the ‘basket’ of goods and services used in calculating the consumer price index, or CPI, are placed into 13 broad expenditure divisions which are divided into smaller groups of related items called a group. The ‘basket’ includes 318 commodities and each commodity may be more than one item for which price data are collected, so no household likely uses all the items it includes.

In a general way, though, there are broad ways in which consumers respond to expectations of higher inflation, and its effects can be expected to be more telling on some types of households than others.

https://jamaica-gleaner.com/article/business/20220102/oran-hall-consumer-and-inflation