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Price of X in 2000: 7
Price of Y in 2000: 51
Price of X in 2001: 11
Price of Y in 2001: 57
Price of X in 2002: 24
Price of Y in 2002: 64
The base year is
2000
The representative basket of consumer goods is 11 units of X and 27 units of Y.
Find the CPI for all 3 years.
Find the inflation rate in 2001 and 2002.
Extra problem (if you have completed Chapter 9):
Nominal interest rate in 2001: 93%
Nominal interest rate in 2002: 98%
Find the real interest rate in both years
Scroll all the way down to see the solutions
CPI in 2000: 100
CPI in 2001: 114.16781292985
CPI in 2002: 137.00137551582
Inflation in 2001: 14.167812929849%
Inflation in 2002: 20%
Real interest rate in 2001: 69.049397590361%
Real interest rate in 2002: 65%