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1. You are searching for Government price index to use in evaluating price of industrial chemical product.  You have price data from 12 months ago.  Would Consumer Price Index (CPI) or a Producer Price Index (PPI) be  better choice for you to use? describe Why?

2. Item cost $250 each 8 months ago. Relevant index was 110.0 at that time.  Today index is 115.5.  Evaluate the item's price today.

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