If the consumer price index was 88 in 2017,95 in 2018, and 100 in 2019, then...

Question

Question

If the consumer price index was 88 in 2017,95 in 2018, and 100 in 2019, then the base year must be 2017 The base year cannot

Answer 1

Answer #1

formula for consumer price index is given as ( cost of market basket in any given year / cost of market basket in base year) x 100

therefore for the base year the value of CPI must be 100 which in this case is for year 2019

Answer 2

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