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The CPI is used to measure the cost of a typical basket of goods. The typical household in the nation of Jaskson buys 3 loaves
The CPI is used to measure the cost of a typical basket of goods. The typical household in the nation of Jaskson buys 3 loaves of bread, 8pounds of cream cheese, and 2 books each week. The prices of these goods in years 2018-2019 are given the table below.
- Calculate the CPI in 2018, using 2019 as the base year (or 2019 as 100).
(Enter your answer with an integer)
2018 | 2019 | |
Price of a loaf of bread | $2 | $2.50 |
Price of a lb of cream cheese | $4 | $4.25 |
Price of a book | $6 | $6.5 |
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