Part 2: The Inflation Rate (weight 30% of the assignment grade) Complete the following exercise: Visit the Bureau of Labor Statistics Web Site, www.bls govinews.releasel/cpi.toc.htm (http:iwww bls. govinews release/cpi.toc.htm). You will be using Consumer Price Index Summaryl and the Table 1 Consumer Price Index for All Urban Consumers (CPI- U} U. 5. city average, by expenditure category . Please note that using the data from previously published releases and summaries will produce grade zero for this part of the project. Write a report (1 - 2 pages double spaced) in your own words to answerthe questions: 1. What month (and year) is summarized? What was the level of the CPIU forthat month? (See Table 1 Consumer Price Index for All Urban Consumersl). What does this number repressnt? 2. Whatwas the rate of inflation (percentage change in the CPIU)for the last available month? How does that rate of inflation compare with the rate in the previous month? 3. What was the rate of inflation (percentage change in the CPIU)for the last 12 months for all itemsll? 4. Which two categories of goods or services had the greatest price increase for the last 12 months? Which two categories of goods or services had the lowest price increase for the last 12 months? 5. Which two categories of goods or services had the largest price decrease for the last 12 months? 6. Who loses from inflation? 7. Who benefits from inflation? 8. Please analyze and discuss the significance of the data that you received for this Data Exercise. 9. Reflect on what you have leamed from this exercise