If the CPI today is 120 and the CPI five years ago was 80, then something that cost $1 five years ago would cost $1.50 in today's prices.

Name: If the CPI today is 120 and the CPI five years ago was 80, then something that cost $1 five years ago would cost $1.50 in today's prices.
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The increase in CPI from 80 to 120 represents a 50% increase (40/80 = 0.5). Therefore, an item that cost $1 five years ago would cost $1.50 today.

If the CPI Today Is 120 and the CPI Five