Year Index 2013 233.0 2014 236.7 2015 237.0 2016 240.0 2017 245.1

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The CPI-U (U.S. city average, all items) has the following annual averages: a. For each year from 2014 to 2017 determine the annual inflation rate in
percent to two decimal places. b. Because inflation, like interest, is compounded from period to period (e.g., year to year), estimate the overall annual inflation rate per year from 2013 to 2017. Suggestion! Do not simply average the rates of part (a).

Year Index
2013 233.0
2014 236.7
2015 237.0
2016 240.0
2017 245.1
Transcribed Image Text:Year Index 2013 233.0 2014 236.7 2015 237.0 2016 240.0 2017 245.1
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