Estimate the consumer price index in 1996

Reference no: EM13232931

a)Compute the equivalent annual inflation rate, based on the US Consumer Price Index, for the period 1981 (when CPI was 90.9) to 1986 (when CPI was 109.6)

b)Using the equivalent annual inflation rate computed in part (a), estimate the Consumer Price Index in 1996, working from the 1987 CPI.

Reference no: EM13232931

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