COMPUTING CONSUMER PRICE INDEX {CPII The CPI is used to measure the cost of a typical basket of goods. The typical household in the nation of Jacksonia buys 4 loaves of bread, 3 kilos of cream cheese, and 8 books each week. The prices of these goods in years 2015, 2016, and 201?r are given in the table below: YEAR I Price of a loaf of bread Price of a kilo of cream cheese I Price of a book 2015 Ph n 100 Calculate the CPI in 201?, using 2016 as the base year. Calculate the CPI in 2015, using 2016 as the base year. Calculate the rate of inflation between 2015 and 2016. Calculate the rate of inflation between 2016 and 2017. Describe a reason why the inflation rate between 2016 and 2017 might overstate changes in the cost of living. EDP-09'!\