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Determining the inflation rate

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Reference no: EM13854988

 

CPI

2004

2004

2005

2005

2006

2006

 

 

 

 

 

 

 

 

 

 

Quantity

Price

Quantity

Price

Quantity

Price

Tea

2

3

1

4

1.5

5

1.5

Biscuits

4

6

2

7

2

8

3

Coffee

3

4

1

6

1

6

2

Bagels

5

6

3

8

4

9

4

1. What's the CPI in the year 2005? (2004 Base Year)

2. What's the inflation rate for the year 2006 (Using the CPI)

Reference no: EM13854988

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