question archive Assume we have three commodities X, Y and Z with the following quantities and prices in 2019 (base year) and 2020 respectively

Assume we have three commodities X, Y and Z with the following quantities and prices in 2019 (base year) and 2020 respectively

Subject:FinancePrice:2.86 Bought7

Assume we have three commodities X, Y and Z with the following quantities and prices in 2019 (base year) and 2020 respectively.

Year

X

Y

Z

2019

Quantity

Price

Quantity

Price

Quantity

Price

100

$1.20

120

$2.10

180

$3.25

2020

$1.44

$2.23

$3.88

  • Calculate the consumer price index in the year 2019. Show your calculation.
  • Calculate the CPI in year 2020. Show your calculation.

 

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