Chapter 8.1, Problem 73E

Recall that the Consumer Price Index (CPI) is a measure of inflation reached by comparing current prices with base prices in $1982–84$. However, it is a mistake to interpret a change in the CPI as the actual percent of inflation. For example, from 2013 to 2014, the CPI for candy and chewing gum rose from $138.5$ to $141.2$. However, the rate of inflation for these items was only $\frac{\$141.2-138.5}{138.5}\approx 0.019=1.9\%$.For Exercises $71–74$, use the given information to fill in the missing items in the table.

Item	CPI for Item in 2005	CPI for Item in 2015	Percent of Increase
Milk		3.310	2.1