Question

In 2003, the salon charged $19. 95 for a basic haircut. Find the cost of the basic haircut in 2013. Explain your reasoning.

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Answer 1

Answer:
Price in 2003: $19.95
Price in 2013: $?

I looked at the CPI Inflation data year by year. I put the CPI and prices into a table and extrapolated the data using the exponential trend formula.
I got an answer of around $25.30.
Or you could use an inflation calculator.
$19.95 in 2003 was worth $25.30 in 2013.