In 2012 the nominal value for household spending on food and beverages was equal to $17593m and in 2021 it was $23888m. Using the most appropriate price index from the list below, calculate the percentage change in real household spending on food and beverages from 2012 to 2021 and answers the questions below. 2012 2021 CPI (Food) 961 1057 CPI (All groups) 949 1068 PPI (Outputs - Food manufacturing) 1031 1171 Import price index (food and beverages) 1436 1306 The percentage change in nominal household spending on food and beverages is equal to?
In 2012 the nominal value for household spending on food and beverages was equal to $17593m and in 2021 it was $23888m. Using the most appropriate price index from the list below, calculate the percentage change in real household spending on food and beverages from 2012 to 2021 and answers the questions below.
2012 2021
CPI (All groups) 949 1068
PPI (Outputs - Food manufacturing) 1031 1171
Import price index (food and beverages) 1436 1306
The percentage change in nominal household spending on food and beverages is equal to?
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