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5. CPI and the Inflation Rate (10 pts.) Use the information in the table to calculate a consumer price index (CPI) and the inflation rate.

5. CPI and the Inflation Rate (10 pts.) Use the information in the table to calculate a consumer price index (CPI) and the inflation rate. The base year is 1980. Round answers to two decimal places. Market Basket Quantity 1980 prices 1981 prices A dozen eggs 29 $1.10 $1.80 A loaf of bread 19 $15.00 $19.00 Televisions 2 $180.00 $230.00 a. What is the CPI for 1980

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