Use the information in the table to calculate a consumer price index (CPI) and the inflation rate. The base year is 1975. Round answers to two decimal places. Market basket Quantity 1975 prices 1976 prices A dozen eggs 22 $0.70 $1.10 Calculator 14 $12.50 $15.00 Microwave oven 3 $150.00 $180.00 What is the CPI for 1975? What is the CPI for 1976? What is the inflation rate for 1976?

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