CPI Basket Assignment | Homework For You
October 19th, 2019
According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%.
- What percentage change in the CPI up until August is accounted for by the changes in the prices of food, clothing, and medical care?
- Given the changes in food, clothing, and medical care, by what percentage did the prices of the other items in the CPI basket change?
- Why did the prices of the other items change?
- What is the probable impact of the change of other items in the CPI basket? Get Economics homework help today