How much inflation occurred between 2005 and 2006

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Calculate a price index for 2005, 2006, and 2007 using the following information about prices. Let the market basket consist of one pizza, two sodas, and three video rentals. Let the year 2005 be the base year (with an index value of 100).

How much inflation occurred between 2005 and 2006? Between 2005 and 2007?

Reference no: EM131431008

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