Question

Using the data provided​ below, calculate the inflation rate from to as measured by each of the three price indexes.​ (Enter your responses rounded to two decimal​ places.)
Price Index Value in august 2017 Value in august 2018 Inflation rate
Consumer Price Index for All Urban​ Consumers: All Items 245.30 251.88 _______%
Personal Consumption Expenditures​ (Chain-type Price​ Index) 106.12 108.46 _______%
Personal consumption expenditures excluding food and energy​ (Chain-type Price​ Index) 108.09 110.19

Answer 1

Answer:

Price Index

                                                                         Value in   Value in   Inflation

                                                                          August     August     Rate

                                                                            2017          2018

Consumer Price Index for All Urban​ Consumers:

All Items                                                             245.30     251.88  _2.68_%

Personal Consumption Expenditures​

(Chain-type Price​ Index)                                   106.12      108.46  _2,21_%

Personal consumption expenditures

excluding food and energy​

(Chain-type Price​ Index)                                  108.09       110.19    1.94%

Explanation:

a) Data:

Price Index

                                                                         Value in   Value in   Inflation

                                                                          August     August     Rate

                                                                            2017          2018

Consumer Price Index for All Urban​ Consumers:

All Items                                                             245.30     251.88 _______%

Personal Consumption Expenditures​

(Chain-type Price​ Index)                                   106.12      108.46 _______%

Personal consumption expenditures

excluding food and energy​

(Chain-type Price​ Index)                                  108.09       110.19

Calculations:

245.30     251.88   increase of 6.58: Rate = 6.58/245.30 * 100 = 2.68%

106.12      108.46   increase of 2.34: Rate = 2.34/106.12 * 100 = 2.21%

108.09       110.19    increase of 2.1: Rate = 2.1/108.09 * 100 = 1.94%