[10 marks] Looking at the CPI data for March 2021 and March 2022 (this is a new table for monthly data for the time period mentioned), explain how CPI and inflation has changed over the year. Explain if you observe any significant changes during this period in the major components of CPI that you have reported above. Explain the detailed economic reasons for changes in 8 main items. Use the monthly data as well as any relevant recent news release. Download and attach the table as well.

Table 1 Consumer Price Index, major components and special aggregates, Canada - Not seasonally adjusted Relative March February March February to March 2021 to importance\" 2021 2022 2022 March 2022 March 2022 'it: (2002:1001 51: change All-items 100 .00 139.6 146.6 148.9 1 .4 6.7 Food 16.24 155.5 166.0 167.5 0.9 7.7 Shelter 30 .03 150.0 1 58.6 160.2 1.0 6.8 Household operations, furnishings and equipment 14.89 123.5 127.6 129.1 1.2 4.5 Clothing and footwear 3.99 93.7 93.9 94.5 0.7 0.9 Transportation 15.96 148.8 1 59.9 165.5 3.5 11.2 Gasoline 3.57 181 .3 226.6 253.4 1 1.8 39.8 Health and personal care 4.681305 134.6 134.9 0.2 3.4 Recreation, education and reading 9.40 116.4 120.9 123.1 1.8 5.8 Alcoholic beverages. tobacco products and recreational cannabis 4.80 173.6 178.5 179.3 0.4 3.3 Special aggregates Allitems excluding food 83.76 136.5 143.1 145.3 1.5 6.4 Allitems excluding food and energy 77.06 133.4 138.3 139.6 0.9 4.6 Allitems excluding alcoholic beverages, tobacco products and smokers' supplies and recreational cannabis 95.20 138.5 145.6 147.9 1.4 6.8 Allitems excluding energy 93.30 137.3 143.1 144.4 0.9 5.2 Allitems excluding gasoline 96.43 138.0 144.1 145.6 1.0 5.5 Energy3 6.70 167.4 199.0 213.9 7.5 27.8 Goods 48.78 126.2 1 34.7 137.8 2.3 9.2 Durable goods 14.44 95.5 100.0 102.5 2.5 7.3 Semidurable goods 6.60 96.8 98.9 99.5 0.6 2.8 Nondurable goods 27.73 152.6 166.3 170.5 2.5 11.7 Services 51.22 152.9 1 58.4 159.4 0.6 4.3