Question

Using the data provided​ below, calculate the inflation rate from to as measured by each of the three price indexes.​ (Enter your responses rounded to two decimal​ places.)

Price Index Value in august 2017 Value in august 2018 Inflation rate
Consumer Price Index for All Urban​ Consumers: All Items 245.30 251.88 _______%
Personal Consumption Expenditures​ (Chain-type Price​ Index) 106.12 108.46 _______%
Personal consumption expenditures excluding food and energy​ (Chain-type Price​ Index) 108.09 110.19

Answer 1

Price Index

Value in Value in Inflation

August August Rate

2017 2018

Consumer Price Index for All Urban​ Consumers:

All Items 245.30 251.88 _2.68_%

Personal Consumption Expenditures​

(Chain-type Price​ Index) 106.12 108.46 _2,21_%

Personal consumption expenditures

excluding food and energy​

(Chain-type Price​ Index) 108.09 110.19 1.94%

Step-by-step explanation:

a) Data:

Price Index

Value in Value in Inflation

August August Rate

2017 2018

Consumer Price Index for All Urban​ Consumers:

All Items 245.30 251.88 _______%

Personal Consumption Expenditures​

(Chain-type Price​ Index) 106.12 108.46 _______%

Personal consumption expenditures

excluding food and energy​

(Chain-type Price​ Index) 108.09 110.19

Calculations:

245.30 251.88 increase of 6.58: Rate = 6.58/245.30 * 100 = 2.68%

106.12 108.46 increase of 2.34: Rate = 2.34/106.12 * 100 = 2.21%

108.09 110.19 increase of 2.1: Rate = 2.1/108.09 * 100 = 1.94%