Solve the following

1. Answer the following questions regarding the Consumer Price Index. a. For the CPI values shown below, calculate the rate of inflation (please round to first decimal place) in each year from 1930 to 1933 (4 inflation rates in total should be reported). Year 1929 1930 1931 1932 1933 CPI 51.3 50.0 45.6 40.9 38.8 b. Look up Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) on the St. Louis Fed's data site (FRED). Convert the CPI index series from 1948 to 2019 into inflation rates by changing the units to "percent change from year ago." To match up with the frequency in part a, please convert the frequency to "annual" with aggregation method "average." Copy and paste the graph into your homework. c. Looking at the inflation data you calculated in part a and the inflation data for more recent periods collected in part b, what is unusual about the time period in part a? Are there similar periods like this in the more recent period of 1948-2019? What historical events are associated with these "unique" periods