Table 8.1

question 55

Essay

Table 8.1
(Source: U.S. Bureau of Labor Statistics)
Considering the end-of-year CPI data in Table 8.1:
(a) Calculate the rate of inflation between 1970 and 1975 and between 1995 and 2000.
(b) Calculate the average rate of inflation for 1970-1975 and 1970-1980.
(c) Calculate the average rate of inflation for 2000-2010 and 2014-2015.
(d) Briefly comment on your results.

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Definitions:

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