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1.The United States Bureau of Labor Statistics reported the following CPI data: June 2014: 189.7 June 2015: 194.5 June 2016: 202.9 a. What do these

1.The United States Bureau of Labor Statistics reported the following CPI data: June 2014: 189.7 June 2015: 194.5 June 2016: 202.9 a. What do these numbers tell you about the level of prices in these three years? b. Calculate the inflation rates for the years ending in June 2015 and June 2016. c. How did the inflation rate change in 2016?

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