Develop a minimum 700-word analysis of inflation. Include the following: Choose a product or service you...

Develop a minimum 700-word analysis of inflation. Include the following:

Choose a product or service you currently consume/use, such as apparel or educational services, that is included in the CPI's "market basket." Find the annual CPI index numbers for your chosen good or service for the years 1995, 2005, 2010, and 2015. Enter those index numbers in an Excel spreadsheet and calculate the percent change (inflation rates) in those index numbers from 1995 to 2005, from 1995 to 2010, and from 1995 to 2015.
Analyze the trends in overall inflation over the last five years and whether your income has kept pace with inflation. How has inflation over the last five years affected you and/or your family?
Discuss how a business manager, such as a human resources manager, might use CPI statistics.

Expert Solution

Answer:

Year	Coffee Consumer Price Index	% inflation	% Inflation	Inflation over the five years	Inflation over the five years
1995	172.9		N/A		0
2000	157			[(157-172.9)/172.9]*100	-9.196067091
2005	151.7	[(151.7-172.9)/172.9]*100	-12.2614228	[(151.7-157)/157]*100	-3.375796178
2010	184.667	[(184.667-172.9)/172.9]*100	6.805668016	[(184.667-151.7)/151.7]*100	21.73170732
2015	207.111	[(207.11-172.9)/172.9]*100	19.78658184	[(207.11-184.667)/184.667]*100	12.15376868

Rahul Sunny answered 1 year ago

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