Instructions:

1. Complete the tablebelow, using the information and formulas provided in class 8 (see PDF document posted on Blackboard).
2. Calculate the annual average inflation ratefor the period 2000-2016 (16 years).
3. Provide an example of your calculations (CPI Index, annual inflation rate and average inflation rate), and round your final results to two decimal places.

Value of basket of goods CPI index Year Annual inflation CPI index Annual inflation (Dollars) 2000=100 rate (%) 2010=100 rate (%) 2000 435,851 100 2001 436,914 2002 446,388 2003 462,651 2004 496,804 2005 489,437 2006 480,454 2007 499,499 2008 516,147 2009 551,423 2010 528,990 100 2011 713,998 2012 772,692 2013 876,943 2014 935,141 2015 980,725 2016 911,199