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Suppose the consumer price index in 2010 was 100 and its corresponding basket of goods was $23,000. if that same basket of goods cost $19,000 in 2006, what was the value of the cpi in that year?

Respuesta :

The value of the CPI in 2006 is 82.61.

What is the value of the CPI?

The consumer price index measures the changes in price of a basket of good. It is used to measure inflation. Inflation is when there is a persistent rise in the general price levels.

CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100

2010 is the base year because its CPI is 100.

(19,000 / 23,000) x 100 = 82.61

To learn more about consumer price index, please check: https://brainly.com/question/26382640

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