News release In the first quarter of 2020, real personal consumption expenditure was $13,117 billion and the
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News release In the first quarter of 2020, real personal consumption expenditure was $13,117 billion and the PCEPI (the deflator) was 110.88. In the first quarter of 2021, real personal consumption expenditure was $13,353 billion and (nominal) personal consumption expenditure was $15,070 billion. Calculate personal consumption expenditure in the first quarter of 2020 and the PCEPI in the first quarter of 2021. Was the percentage increase in real personal con sumption expenditure greater or smaller than that in personal consumption expenditure?
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