You have the following information for the U.S. economy in 2011 and 2012
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You have the following information for the U.S. economy in 2011 and 2012:
CPI-U
(1982-84=100)
2011 224.9
2012 229.6
Based on the above information, answer the following:
a. If someone says the "CPI-U for 2012 was 229.6", translate that into language that humans (in contrast to "econs") can understand. Be sure to briefly explain the cryptic "1982-84=100".
b. Using the above information, calculate the headline inflation rate in the U.S. from 2011 to 2012.
13 years ago
You have the following information for the U.S. economy in 2011 and 2012
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