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I am so angry! These prices have gone up so much in the past month!
It is due to inflation. All prices have increased by 5%.
How do you know that?
I used the Consumer Price Index formula to calculate it.
How do you calculate CPI?
Here, lets sit down and I can help you understand.
To calculate CPI, you have to have a base year market basket and the year you want market basket.
The market basket for 2016 was 100. The market basket for 2017 is 105.
You subtract the base year from the year you want and divide it by the base year and multiply it by 100 to get the inflation percent. (105-100)/100 x 100= 5%.
Okay! that makes sense now!
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