Using the data in the table below, calculate the CPI and the inflation rate in each year using 2015 as the base year. Instructions: Round your answers to one decimal place. Price of basket ($) Year CPI Inflation rate 2015 18000 2016 21500 2017 22750 2018 26150 2019 28875 2020 32550

Using the data in the table below, calculate the CPI and the inflation rate in each year using 2015 as the base year. Instructions: Round your answers to one decimal place. Price of basket ($) Year CPI Inflation rate 2015 18000 2016 21500 2017 22750 2018 26150 2019 28875 2020 32550

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Using the data in the table below, calculate the CPI and the inflation rate in each year using 2015 as the base year.
Instructions: Round your answers to one decimal place.
Price of basket
Year
CPI
Inflation rate
($)
2015
18000
2016
21500
2017
22750
2018
26150
2019
28875
2020
32550

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