The following figures represent the CPI indices (base period 1982–1984 = 100) for urban consumers in U.S. cities. Determine the average general inflation rate between 2001 and 2005. Use the following data: Base Calendar Year CPI 2001 176.9 1 2002 179.8 2003 183.8 3 2004 188.0 4 2005 194.6 The average inflation rate between 2001 and 2005 is

The following figures represent the CPI indices (base period 1982–1984 = 100) for urban consumers in U.S. cities. Determine the average general inflation rate between 2001 and 2005. Use the following data: Base Calendar Year CPI 2001 176.9 1 2002 179.8 2003 183.8 3 2004 188.0 4 2005 194.6 The average inflation rate between 2001 and 2005 is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume the CPI for 2015 and 2016 were 238 and 243 respectively. What was the inflation rate between those two years?
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