Insurance and financial services Education 5.08% Food and non-alcoholic 3.18% beverages 16.84% Recreation and culture 12.56% Alcohol and tobacco Communication 7.07% 3.05% Clothing and footwear 3.98% Transportation 11.55% Health Housing 5.29% 22.30% Furnishings, household equipment and services 9.10%Question 1: CPI during COVID-19 (a) Using data on consumer spending from the following website that tracks consume spending during the COVID-19 period (https://alphabeta.com/illiontracking ), provid critique on the calculation of the CPI in the June 2020 quarter by the ABS. (Note that consumer spending indices reflect price x quantity of items purchased). Using data from illiontracking, we can see that Customer Spending dropped more tha growth in the June quarter. (b) Assume that prices in two of the twenty categories listed in the website in part (a delivery; furniture and office) have increased by 8 percent since the start of COVID- between Jan to July 2020), while prices for two other categories (travel and taxi/rides have decreased by 10 percent. Assume that prices for the remaining 16 categories ren constant. Explain what effect this will have on the inflation rate, and how you arrived conclusion, including any assumptions that you make