(Answered) Assignmentread the article the consumer price index

Economics

Assignment

Read the article: "The Consumer Price Index - Why the Published Averages Don't Always Match an Individual's Inflation Experience."

Now determine your own personal rate of inflation - that is, the average rate of increase in prices of the goods and services that you yourself purchase. Is your personal inflation rate higher, lower, or about the same as the official rate of inflation measured by the CPI?

Hint: Divide your typical expenditures into the various classes listed in the article. Then look up the current rates of inflation for each of the expenditure classes. Find current rates of inflation.

Under "Current CPI Economic News Releases", select (HTML).

Then select Table 1.

The inflation rate is the unadjusted percentage change from one year ago.

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