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Assume that the consumption bundle used to compute CPI is 20 gallons of gasoline and 5 bottles of hand sanitizer. Using the following table, what

Assume that the consumption bundle used to compute CPI is 20 gallons of gasoline and 5 bottles of hand sanitizer. Using the following table, what is the CPI in 2020 and what is the inflation rate from 2019 to 2020.

2019 2020 Price of a gallon of gasoline $2.50 $2.00 Price of a bottle of hand sanitizer $8.00 $12.00 CPI 100 Inflation rate from 2019 to 2020

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