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Calculate the overall CPI for the retired person and for the college student by multiplying the CPI for each of the categories by the relative importance of that category

Calculate the overall CPI for the retired person and for the college student by multiplying the CPI for each of the categories by the relative importance of that category to the individual and then summing each of the categories. The CPI for all items in November 2007 was 210.2. How do your calculations for a CPI for the retired person and the college student compare to the overall CPI? 8. Each month the Bureau of Labor Statistics releases the Consumer Price Index Summary for the previous month. Go to www.bls.gov and find the latest report. (On the Bureau of Labor Statistics home page, click on “News Release” under “Latest Numbers—Consumer Price Index” and then choose “Consumer Price Index Summary.”) What was the CPI for the previous month? How did it change from the previous month? How does the CPI compare to the same month one year ago?

May 01 2020 View more View Less

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