Use the information below to: a) compute the price index for each year using 2019 as the base year. b) compute the inflation rate between the two years. Item Quantity Unit Price-2018 Unit Price-2019 Coffee 20 pounds $7.00 $8.00 Rent 12 months 950.00 1,000.00 Pizza 100 pizzas 12.00 14.00 Cable 12 months 55.00 60.00 Vacation 2 weeks 550.00 600.00
Use the information below to:
a) compute the price index for each year using 2019 as the base year.
b) compute the inflation rate between the two years.
Item Quantity Unit Price-2018 Unit Price-2019
Coffee 20 pounds $7.00 $8.00
Rent 12 months 950.00 1,000.00
Pizza 100 pizzas 12.00 14.00
Cable 12 months 55.00 60.00
Vacation 2 weeks 550.00 600.00
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