Inflation is getting pretty bad here in the UK and making me worried about my budget. I wanted to know how much my monthly shop would cost me. Let’s have a look at how to do that in Arithmix.
I first created a simple measure to store how much my monthly shop is. I think its around £570 or so. Next I added a measure ‘inflation’ to store how much the inflation rate is. I think its around 9% at the moment here in the UK.
Now lets create a new table with a measure called Future Shop cost which the value:
Future Shop Cost = COMPOUND((1 + Table1.Inflation), Time.Month, Table1.Monthly Shop)
Now let’s right click on the time dimension and go to the display section and turn off quarters as I’m not interested in those.
Next I’m going to go the ‘Configuration Dashboard’ so that my time dimension reflects from now January until next December.
Using the display icon on my Table2 to set my table to a line chart I can see how my month shop will vary.
MAGIC TIME!
Let’s now create a new dimension in Table1 called scenarios. I set it up like this to try to explore the variability in my monthly shop and the possible variability in inflation rates.
My chart will auto update now. Arithmix allows you to use dimensions in calculations automatically without any effort or duplication.
So you can see that its the inflation rate that makes the biggest difference. I’ll be watching that closely!
Best,
Vince