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)The government has released the latest information on key inflation indices. The retail price index suggested inflation was 3.67% and the consumer price index suggested

)The government has released the latest information on key inflation indices. The retail price index suggested inflation was 3.67% and the consumer price index suggested inflation was 2.53%. A typical basket of food at the supermarket this week costs 52.30. Calculate the cost of that typical basket one year ago using the: i) retail price index ii) consumer price index

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