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Go to the Statistics Canada website https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000501 to view the annual average Consumer Price Index for Canada. Change the Reference period years from 1999 to
Go to the Statistics Canada website https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000501 to view the annual average Consumer Price Index for Canada. Change the Reference period years from 1999 to 2021 and click Apply to see the updated data table. Answer the following questions and provide data and calculations where necessary. (20 points) What is the CPI base year being used and what is the value of the index in that year? Calculate the rates of inflation between 2018-2019 and 2020-2021. Round your answer to two decimal places. Which product category had the highest price level changes since the base year to present? Which category experienced the lowest price level increases? Any explanations for both price level changes? By what percentages have the price of food, shelter and household furnishings changed from the base year to the most current period? What about from 2019 to the most current year? In which ways might the CPI data on food not accurately reflect what is really happening to prices in this product category
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