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The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base
The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Product Base Year (Year 1) Quantity Price in the Price in Price in Base Year Year 2 Year 3 Pizza T-Shirts Rent 15 $3.50 $4.38 $4.73 2 $20.00 $18.00 $20.00 1 $350.00 $385.00 $420.00 The inflation rate between Year 1 and Year 2 is The inflation rate between Year 2 and Year 3 is %. (Round both answers to one decimal place.)
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