The price of bananas increased from $⁢0.507 per pound in 2004 to $⁢0.612 per pound in 2024. What is the CPI for 2024, using 2004 as the base year? Consumer price index formula: CPI=((cost of basket in current year)/(cost of basket in base year))⋅100

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Inflation and the CPI - Quiz Quiz

The price of bananas increased from $⁢0.507 per pound in 2004 to $⁢0.612 per pound in 2024. What is the CPI for 2024, using 2004 as the base year? Consumer price index formula: CPI=((cost of basket in current year)/(cost of basket in base year))⋅100

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