The table below shows a consumer's weekly purchases during 2019 and 2020. Answer the following questions writing out dollars and
cents for monetary values e.g. $1.00 or $0.10, price index values as whole numbers without decimals e.g. 110, and percentage rates as
whole numbers, e.g. 5%.
Quantity
(#Consumed per Week)
Hamburgers
Bottles of Cola
Price ($)
2019
2020
2019
2020
3.00
3.25
5
4
1.25
1.30
11
12
a. The value of the consumer's 2019 shopping basket using 2019 prices is $ 28.75
prices is $ 30.55 Round off the answer to two decimal places.
The value of the same basket using 2020
b. If 2019 is used as the base year, the 2019 value of the consumer's price index is
and the 2020 value of the index is
c. Using 2019 as the base year, the inflation rate between 2019 and 2020 is