. Each month the Bureau of Labor Statistics releases the Consumer Price Index Summary for the previous month. Go to www.bls.gov and find the latest report. (On the Bureau of Labor Statistics home page, click on “News Release”

under “Latest Numbers—Consumer Price Index” and then choose “Consumer Price Index Summary.”) What was the CPI for the previous month? How did it change from the month before? How did it change over the last year?

10. The accompanying table provides the annual real GDP (in billions of 2000 dollars) and nominal GDP (in billions of dollars)

for the United States.

a. Calculate the GDP deflator for each year.

b. Use the GDP deflator to calculate the inflation rate for all years except 2002.