Please help
In 1950, the price of soft drinks was $0.10. In 199, the price of soft drinks was $0.60. If the CPI in 1950 was 30 and the CPI in 1990 was 90, what was the change in the price of soft drinks from 1950 to 1990, measured in 1950 dollars?
Ok now I think the consumer price index is measured as
Inflation rate in year 2 = CPI in year 2 - CPI in year 1/ CPY in year 1 X 100
Can anyone help!!
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