While the CPI always has a base year and the base year can be changed, does a change in the base year change the inflation rate calculated from the CPI data (e.g., the U.S. inflation rate for 2021 was 6.8% and does this rate depend on the base year of CPl or will a change in the CPI base year change the inflation rate of 2021)?
While the CPI always has a base year and the base year can be changed, does a change in the base year change the inflation rate calculated from the CPI data (e.g., the U.S. inflation rate for 2021 was 6.8% and does this rate depend on the base year of CPl or will a change in the CPI base year change the inflation rate of 2021)?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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