Calculate the current years cost of the market basket

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Reference no: EM13761600

Consumer Price Index Calculate a new consumer price index for the data in the following exhibit. Assume that current-year prices of Twinkies, fuel oil, and cable TV are $0.95/package, $1.25/ gallon, and $15.00/month, respectively.

Calculate the current years cost of the market basket and the value of the current years price index. What is this year's percentage change in the price level compared to the base year?

Reference no: EM13761600

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