From the following data compute the consumer price Index for the year 1998 w.r.t. the price level of 1997. Items Weight Percentage of increase in prices over the price of 1997 Food Rent Clothing Fuel Misc. 7.5 2.5 3 1 50 60 40 30 20

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From the following data compute the consumer price Index for the year 1998
w.r.t. the price level of 1997.
Food
Items
Food
Rent
Clothing
Fuel
Weight
Percentage of increase in
prices over the price of 1997
Misc.
7.5
2
2.5
Rice
Whe
Pul
3
1
50
60
40
20
30
Transcribed Image Text:From the following data compute the consumer price Index for the year 1998 w.r.t. the price level of 1997. Food Items Food Rent Clothing Fuel Weight Percentage of increase in prices over the price of 1997 Misc. 7.5 2 2.5 Rice Whe Pul 3 1 50 60 40 20 30
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