Calculate the CPI for each year, and the rate of inflation for year 6 only. CPI values and inflation rates should be stated to one decimal place.

(oot = (005) I. CPI and Inflation Rates (10 Marks) LOOS 500 The cost of a typical basket of consumer goods is shown below for six ( 6 ) years. Year Cost of Basket Year Cost of Basket $ 175 4 $ 211 2 $ 183 5 $ 225 3 $ 193 a $ 236 Required: Calculate the following: 1. The CPI for each year, and the rate of inflation for years 2, 3, 4, 5 and 6. In doing this students with the last name starting with, A to C will use Year 6 as the base year, D to G will use Year 5, H to L will use Year 4, M will use Year 3, N to R will use Year 2, and S to Z will use Year 1. Both the CPI values and inflation rates must be stated to one decimal place