81.8k views
3 votes
The people who live on​ Shangri-La Island consume only rice and fish. Last​ year, which was the reference base​ year, the price of rice was ​$3 a​ pound, the price of fish was ​$3 a​ pound, and the average urban household spent ​$12 on rice and ​$15 on fish. This​ year, the price of rice is ​$5 a pound and the price of fish is ​$9 a pound. What is the CPI in the current​ year?

User Shinto C V
by
8.4k points

1 Answer

3 votes

Answer:

CPI in the current year = ($59 / $26) x 100 = 226.9

User David Mihal
by
8.5k points