Question

From 1980 to 2000, the consumer price index increased from 122.5 to 181. If a pound of tomatoes cost $0.75 in 1980 and the price of tomatoes increased at the same rate as the cpi from 1980 to 200, approximately how much did a pound of tomatoes cost in 2000

Answer 1

the increase of CPI from 1980 to 2000 is > (181-122.5) (100%) / (122.5) = 47,755%

then, price of a pound of tomato in 2000 = $0.75 + ($0.75 x 47,755%) = $1.108