Data Assignment #3-Exploring Inflation Rates As you saw in the MRU video, FRED provides an easy tool for exploring inflation rates. Start by going to FRED. You can use Google or the URL FRED.stlouisfed.org. Scroll down to CPI. Click on Consumer Price Index for all Urban Consumers. 1. Reading the description below the graph, who produces the inflation rate data? 2. Reading the description in the title, what is the base year for this data series? Click the orange/red Edit Graph button in the upper right corner above the graph. Under Modify Frequency, select Annual. Move your cursor over the graph to find the CPI for a given year. 3. What year were you born? 4. What was the CPI in the year that you were born? To calculate inflation rates, click the orange/red Edit Graph button again. Under Units, select Percent change from year ago. Now the graph illustrates inflation rates