Question: The CPIs at the start of each decade from 1940 to 2000 were
Year 1940 1950 1960 1970 1980 1990 2000
CPI 14.0 24.1 29.6 38.8 82.4 130.7 172.2
a. Determine the percentage increase in the CPI for each decade.
b. During which decade was inflation the highest, as measured by the percentage change in the CPI?
c. During which decade was inflation the lowest, as measured by the percentage change in the CPI?