Given the following table about the level of the consumer price index (CPI), perform calculations and show your work in the coming parts of the question. Consumer Price IndexYearConsumer Price Index2015139.52016144.72017 2018160.12019168.1 Calculate the inflation rate in 2016. If the inflation rate was 6 percent in 2018, calculate the CPI in 2017.

The Inflation depicts the increment in price level of an economy. It is of different types:…

Answered: Consumer Price Index

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Given the following table about the level of the consumer price index (CPI), perform calculations and show your work in the coming parts of the question.

Consumer Price Index

Year	Consumer Price Index
2015	139.5
2016	144.7
2017
2018	160.1
2019	168.1

Calculate the inflation rate in 2016.
If the inflation rate was 6 percent in 2018, calculate the CPI in 2017.

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