Percentage change in the real price

Table describe the average retail price of milk and the Consumer Price Index during 1980 to 1998. Determine percentage change in the real price (1980 dollars) from 1990 to 1995?

1980 1985 1990 1990 1995

CPI 100 130.58 158.62 185.90 197.82

(Retail price $1.05 $1.13 $1.39 $1.48 $1.61

of milk)

Percentage change in real price from 1990 to 1995 = 0.80-0.80/0.88 = -0.09=-9%

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