Items in Basket of Goods 2012 Price ($) 2013 Price ($) 2014 Price ($) 2015 Price ($) 2016 Price ($) 2017 Price ($) 1 Book 1 Steak 5.25 4 5.25 5 5.25 6.25 4 6 6.25 5 7.25 7 1 Potato 0.47 0.57 0.57 0.37 0.47 0.77 1 Cookie 3 3 4 4 3 4 1 Bag of Charcoal 5.4 5.4 5.4 6.4 7.4 5.4 The market basket of goods for purposes of computing the Consumer Price Index (CPI) in Suffragate City contains the following: 2 books, 5 steaks, 9 potatoes, 10 cookies, and 3 bags of charcoal. The table above and the applet give the price history of single items from the basket for the years 2012 through 2017. Calculate the total price of a basket of goods in each year and enter into the table below. Then, for each year, compute the CPI based on the past price of the basket in 2007 which was $63.43. Finally, compute the CPI inflation since 2012. Round all answers to 2 decimal places. Year Price of Basket of Goods 2012 2013 CPI (base year 2007) CPI inflation since 2012 N/A 2014 2015 2016 2017