Professor Hui Lin finds his 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

2002 83 2015 113

2003 84 2016 115

2004 85 2017 120

200588 2018 121

2006 91 2019 121

2007 93

2008 98

(Take from Word Development Indicators, World Bank)