1. Fill in this table for the All Groups CPI and selected level 1 groups. (Some values have been completed for you so you know when you have found the correct values and to show you how to format values.) Cells that have a grey background are calculated values. The All Groups CPI and the subgroups can be found on Infoshare(https://infoshare.stats.govt.nz/infoshare/). The subgroup weights can be found herehttps://www.stats.govt.nz/information-releases/consumers-price-index-september-2022-quarter/ in one of the files under "Download data

Quarter	Food	Clothing and footwear	Housing and household utilities	Transport	Communication	CPI All groups
2019Q1
2019Q2
2019Q3
2019Q4
2020Q1
2020Q2
2020Q3
2020Q4
2021Q1
2021Q2	1073	1011	1137	1072	848	1082
2021Q3
2021Q4
2022Q1
2022Q2
2022Q3
Inflation rate
2022Q3 Annual	8.0					7.2
2019Q4 - 2022Q3				19.0
Weight			28.25
Percentage point contribution
2022Q3 Annual				1.7
2019Q4 - 2022Q3	2.9

2. Explain what the row labelled "Weight"

3. Which subgroup has had the biggest influence on overall inflation for (a) the year ended September 2022; and (b) since December 2019 (pre-COVID)?

4. The prices of goods and services included in the "Communication" subgroup over the period 2019Q4 to 2022Q3 seem to be going against the trend for the subgroups. Explain how price or quality changes or both could be driving this result.

5. The prices of goods and services in the "Transport" subgroup are up 19 percent since 2019Q4. Provide an explanation of what commodities could be causing this and what real world event or events might be the reason behind this increase. (Note there is no single correct answer here.Your answer should be a plausible theory that could be tested against the data.) 6. Write a short report on what you expect to happen to inflation in the next 3 years. (There is plenty of material out there on this). You should support your expectation with plausible reasons, explanations and data. In order to make a plausible statement about the future you will need to support this with some evidence. Your answer should be a coherent, articulated piece of writing and not simply a set of disconnected statements - see the suggested marking guide below. Tables and graphs can be useful and don't count in 300 words. There is no single correct answer to this part but some answers will be more sensible and better supported than others (it is a forecast after all).