Suppose the consumer price index in 2010 was 100 and its corresponding basket of goods was $23,000. if that same basket of goods

Question

shepuryov [24]

2 years ago

9

Suppose the consumer price index in 2010 was 100 and its corresponding basket of goods was $23,000. if that same basket of goods

cost $19,000 in 2006, what was the value of the cpi in that year?

Business

1 answer:

Musya8 [376] · Answer 1 · 2023-05-06T14:06:37+03:00

The value of the CPI in 2006 is 82.61.

<h3>What is the value of the CPI?</h3>

The consumer price index measures the changes in price of a basket of good. It is used to measure inflation. Inflation is when there is a persistent rise in the general price levels.

CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100

2010 is the base year because its CPI is 100.

(19,000 / 23,000) x 100 = 82.61

To learn more about consumer price index, please check: brainly.com/question/26382640

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