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a)The following table shows the average market basket prices of an Asian country for several years. Year Market Basket Price ($) 2008 340 2018 420

a)The following table shows the average market basket prices of an Asian country for several years.

Year

Market Basket Price ($)

2008

340

2018

420

2019

455

2020

500

I. Using the table above, calculate theConsumer Price indexfor 2018, 2019 and 2020 if the base year is 2008.

II. Based on the above information, calculate the inflation rate in the year 2020

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