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2. Table 2 lists the per kg prices of meat and potatoes for the months of January, February, and March. Assume that the typical consumer

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2. Table 2 lists the per kg prices of meat and potatoes for the months of January, February, and March. Assume that the typical consumer buys 25 kgs of meat and 15 kgs of potatoes each month, and that January is the base period. Table 2 Month Price of Meat Price of Potatoes January $3.50 $1.50 February $3.38 $0.60 March $4.00 $1.40 Compute 1) the cost of a basket of goods for each month. 11) the consumer price index for February and March 111) the inflation rate for February iv) the inflation rate for March [Total Marks: 14]

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