The Table Below Lists the Prices of Chips and Salsa

question 17

Short Answer

The table below lists the prices of chips and salsa for the months of October, November, and December. Assume that the typical consumer buys 8 bags of chips and 4 jars of salsa each month, and that October is the base period.
$\begin{array} { | l | l | l | } \hline \text { Month } & \text { Price of Chips } & \text { Price of Salsa } \\\hline \text { October } & \$ 2.50 & \$ 2.50 \\\hline \text { November } & \$ 2.40 & \$ 2.55 \\\hline \text { December } & \$ 2.60 & \$ 2.75 \\\hline\end{array}$
-Calculate the inflation rate for December.