The consumer price index (CPI) of a country was approximately 200 at the beginning of year 2010. If inflation continued at an average rate of 2.5%, what would the index be at the beginning of year 2021?
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- A consumer expenditure survey reports the following information on consumer spending: 2020 2021 Price Quantity Price Quantity Product (1) $10 7 $10 7 Product (2) $6 10 $8 12 Product (3) $12 5 $14 10 a) Using 2020 as the base year, by how much does a "cost of products" index increase between 2020 and 2021? b) Calculate the inflation rate between 2020 and 2021, using the CPI you calculated in (a)In 2022, the CPI for a particular country was 180.0. In 2023, the CPI increased to 195.5. Assuming the base year was set at 2010 with a CPI of 100, calculate the inflation rate between 2022 and 2023.Question 11 of 25, Step 1 of 1 T A basket of goods and services is used to calculate the consumer price index (CPI) in Country A. The weight of food and beverages is 10% of the whole basket. The average household's budget on food and beverages was $7,500 in 2010 (base year) and increased by $500 in 2015. Assuming the increase in the rate of spending on food and beverages matched the inflation rate, calculate the inflation rate between 2010 and 2015. Round your answer to two decimal places if necessary.
- What is the inflation rate from 2010 to 2011 if CPI2010 = 150.3 and CPI2011 = 155.5 ?Zambia's CPI for this period (CPI,t=1) is 195, and its inflation premium is at 2.60%. What is its CPI for the last period (CPI,t) ?Suppose a house that was worth $68,000 in 1987 is worth $104,000 in 2004. Assuming a constant rate of inflation from 1987 to 2004, what is the inflation rate?
- Suppose the CPI in year 1 is 137. Given that the inflation rate is 0.3% in year 2 and 4.2% in year 3, how much does it cost at the end of year 3 to purchase the same goods and services that cost 260 at the beginning of year 1.The steps involved in calculating the consumer price index, in order, are as follows: * Choose a base year, fix the basket, compute the inflation rate, compute the basket's cost, and compute the index. Choose a base year, find the prices, fix the basket, compute the basket's cost, and compute the index. Fix the basket, find the prices, compute the basket's cost, choose a base year and compute the index. Fix the basket, find the prices, compute the inflation rate, choose a base year and compute the index.You know that the consumer price index (CPI) at the beginning of this year was 150 and the rate of inflation was 8%; this would mean the CPI at the end of the year was
- In 2017, which was accepted as the base year in a family consuming only bread and cheese, 50 TL was spent for cheese and 30 TL for bread. In the base year, cheese is 4 TL and bread is 5 TL. In 2018, the price of cheese was 4 TL and the price of bread was 6 TL.According to these data, what is the inflation rate of 2018 for the family in question?Quantity Quantity Item (2018) Price (2018) (2019) Price (2019) Magazines 400 $5.00 450 $4.50 Movie tickets 50 $6.00 200 $8.00 Pizzas 100 $10.00 120 $10.50 The data in the table above shows the consumption by families in an economy. The year 2018 is the reference base period. Based on the table above, between 2018 and 2019, the inflation rate in this country was 2.5 percent. 98.5 percent. -1.5 percent. 105.1 percent. -2.5 percent.a) Find the inflation rate in 2010, if the 2009 is the base year? b) Find the increase in the cost of living between 2010 and 2011?