Given the below information, find Consumer Price Index CPI for all four months. Find the percent rate of change in CPI from the first month to the second month, then from the second month to the third month, then from the third month to the fourth month. Using the percent rate of change from the third month to the fourth month find how long it will take for the CPI to double. Show all work and take all steps. Shirt Shoes Car TV Month 1 27 23 37,000 330 Month 2 28 24 37,300 370 Month 3 29 26 37,600 400 Month 4 30 27 37,900 430
Given the below information, find
Shirt Shoes Car TV
Month 1 27 23 37,000 330
Month 2 28 24 37,300 370
Month 3 29 26 37,600 400
Month 4 30 27 37,900 430
Consumer price index is the measure of inflation and the market basket of the commodities which takes into consideration the base year prices as well. The base year is set to be the most non-fluctuating in the history and is updated on regular basis. The consumer price index helps in balancing the market basket between different countries as well.
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