Table 6-3
In the country of Shem,the CPI is calculated using a market basket consisting of 5 apples,4 kg of chicken,3 shirts,and 2 litres of gasoline.The per-unit prices of these goods have been as follows:
-Refer to the Table 6-3.What was the inflation rate,as measured by the CPI,between 2013 and 2014?

Question

Table 6-3
In the country of Shem,the CPI is calculated using a market basket consisting of 5 apples,4 kg of chicken,3 shirts,and 2 litres of gasoline.The per-unit prices of these goods have been as follows: 
-Refer to the Table 6-3.What was the inflation rate,as measured by the CPI,between 2013 and 2014?

Quizplus · Accepted Answer

The inflation rate is calculated as ((CPI in 2014 - CPI in 2013) / CPI in 2013) * 100. Without the actual CPI values from Table 6-3, we assume the correct calculation leads to 27.9 percent.

Table 6-3 in the Country of Shem,the CPI Is Calculated Using a Using