Calculate the inflation rate for given years

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Reference no: EM131790094

Question: Consider a simple economy below that produces only three products. Use the information in the following table to calculate the CPI for each of the three years, and then to calculate the inflation rate for 2012-2014 and for 2014-2015 as measured by the CPI

	base year	2012	2014	2015
product	quantity	price	price	price
haircuts	2	20	22	25
hamburgers	10	4	4.2	4.5
dvds	6	15	15	14

Reference no: EM131790094

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