Inflation Question

Use the following consumer data for housing, energy, and food purchased in the year(s) 2017, 2018, and 2019 in Macroland.Show your work.The base year 2018.

Price in 2017 Price 2018 Price 2019

Housing $22,000.00$22,500.00$28,000.00

Energy $20,000.00$21,000.00$21,200.00

Food $12,000.00$12,600.00$13,000.00

a.Calculate the CPI (Consumer Price Index) for 2018. Please interpret the result.

b.Calculate the CPI for 2019.Please interpret the result.

c.What is the inflation rate between 2017 and 2018?

d.What is the inflation rate between 2017 and 2019?

e.What is the inflation rate between 2018 and 2019?

f.Calculate the growth rate of the price of housing from 2017 to 2018.

g.Comparing housing and food, which is relatively more expensive, 2017 or 2018? Why?