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Use the information in the table to calculate a consumer price index (CPI) and the inflation rate. The base year is 1975. Round answers to

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Use the information in the table to calculate a consumer price index (CPI) and the inflation rate. The base year is 1975. Round answers to two decimal places. Market basket Quantity 1975 prices 1976 prices A dozen eggs 25 $0.90 $1.50 Calculator 18 $13.00 $16.00 Microwave oven 6 $160.00 $200.00 What is the CPI for 1975? What is the CPI for 1976? Enter numeric value What is the inflation rate for 1976? %

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