A small economy called Jifi produces only two goods: coconuts and fish. The price and quantity of these goods for the years 2014 and 2015 were as follows:

a) Using 2014 as the base year, calculate the CPI for both periods.

b) Calculate the inflation rate for 2015.

Year Price of Coconuts 2014 2015 $1.80 $2.70 Quantity of Coconuts 110 55 Price of Fish $13.30 $12.50 Quantity of Fish 40 60