Professor Hui Lin finds her mother's textbook entitled "Economics" authored by Parkin (1996, the 3rd edition) priced at RM45.00.The latest version (the 13th edition) publsihed in 2019 is RM33.21 at Amazon.

a) Calculate the consumer price index (CPI) for this title.Interpret it i.e. how much the percentagethis title is inflated between 1996 and 2019?(5 marks)

b) Given the official CPI as below, what is the price of this title in 2019 should be?Is it consistent to your answer in (a)?if, not why?(5 marks)

Malaysia Consumer price index (2010 = 100)Year Consumer price index (2010 = 100)

1996 71

2009 98

1997 73

2010 100

1998 77

2011 103

1999 79

2012 105

2000 81

2013 107

2001 82

2014 110

200283

2015 113

2003 84

2016 115

200485

2017 120

2005 88

2018 121

2006 91

2019 121

2007 93

2008 98

(Take from Word Development Indicators, World Bank)