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15 August, 02:23

Suppose the market basket cost $800 during the base period and $1,800 today. What is the CPI today?

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  1. 15 August, 02:45
    0
    225

    Explanation:

    CPI stands for the consumer price index. It is a measure of inflation in a country per period.

    the CPI is calculated using the formula

    CPI1 = Cost of the basket in year1 x 100

    Cost of basket base year

    For this case, CPI = 1800 x 100

    800

    =2.25 x 100

    =225
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