00:01
Okay, so i see that you need help with this.
00:02
And so it says it wants you to calculate the consumer price index for each year and the annual inflation rates for 2024 and 2025.
00:13
So the consumer price index measures the average change over time and the prices paid by urban consumers for the market basket of consumer goods and services.
00:25
The formula for creating cpi in any given year is cpi equals cost of market basket price divided by the cost of the market basket price in the base year.
00:50
So the base year.
00:54
And then you are going to multiply that by 100.
00:58
So for number six, for 2023, you're going to take 250 and you are going to divide that by the base year.
01:17
So if i have the base year is 20 is 2025, so that's 500.
01:27
And then you're going to multiply that by 100.
01:30
And so that is equal to 50.
01:35
Then number seven for 2024, that's going to be, so you're going to take 400 divided by 500 and then multiply that by 100, and that is 80, 8, for 2025, that's going to be 500 divided by 500 times 100.
02:00
That is going to be 100.
02:04
For number 9, for 2026, you're going to take 550, divide that by 500 times 100...