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Data from Southton Price (dollars) Price (dollars) Quantity (number) Quantity (number) Item Base Current Base Current Rubber Ducks Beach Towels 1.05 9.00 1.26 6.00 105
Data from Southton
Price (dollars) | Price (dollars) | Quantity (number) | Quantity (number) | |
Item | Base | Current | Base | Current |
Rubber Ducks Beach Towels | 1.05 9.00 | 1.26 6.00 | 105 12 | 100 14 |
Apples | 2.00 | 4.00 | 10 | 15 |
1)Refer to Table
a)From the data in Table 21.3.2. What is Southton's consumer price index for the current year? Show your calculations.
b) What is the rate of inflation over the base year? Show your calculations.
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