A basket of goods and services representative of the CPI cost $2,750 when the CPI stood at 118.3.
a) What did the basket of goods cost 10 years earlier, when the CPI was at 93.1?
b) What was the overall percent inflation experienced by consumers for the entire 10-year period?

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The Answer of A basket of goods and services representative of the CPI cost $2,750 when the CPI stood at 118.3.
a) What did the basket of goods cost 10 years earlier, when the CPI was at 93.1?
b) What was the overall percent inflation experienced by consumers for the entire 10-year period?

A Basket of Goods and Services Representative of the CPI