The approximate CPI given the prices of the market basket of goods and services in the current year versus the base year is 150%.
<h3>What is Consumer Price Index (CPI)?</h3>
The CPI is a measurement of the overall cost of the goods and services bought by a typical consumer, using a market basket of goods and services.
The CPI gauges the inflation rate in a fiscal period.
<h3>Data and Calculations:</h3>
Market basket 100X 200Y 300Z
Current-year prices $5 $2 $3
Total current-year prices $500 $400 $900 = $1,800
(100 x $5) (200 x $2) (300 x $3)
Base-year prices $2 $2 $2
Total base-year prices $200 $400 $600 = $1,200
(100 x $2) (200 x $2) (300 x $2)
CPI for the current year = 1.5 or 150% ($1,800/$1,200)
Thus, the approximate CPI given the prices of the market basket of goods and services in the current year versus the base year is 150%.
Learn more about the Consumer Price Index (CPI) at brainly.com/question/8416975
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