$17,733 is the value of CPI.
Elaborate:
The equation is Cost in 2006 = (140/150) × $19,000
= 0.9333 × $19,000 = $17,733.was the worth of the cpi in that year
What is cpi ?
By tracking changes in the prices consumers pay over time for a selection of goods and services, the buyer Price Indicator (CPI) is a popular index for measuring inflation.
The eight main categories of those products and services are: alcoholic drinks, food and beverages, clothing, transportation, clothing, health care, recreation, education, and communication.
By comparing the worth of this fixed basket of consumer goods and services in one time to their prices in prior periods, the buyer price index is determined. Therefore, increases within the CPI roughly mirror changes in the cost of living in the United States.
As a result, the CPI may be a key economic indicator for spotting times of inflation (or deflation) in the United States.
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