Question: Statistics Canada reported the following CPI data: December 2014 125.5 December 2015 127.5 December 2016 129.4 a. Calculate the inflation rates for the years ended

Statistics Canada reported the following CPI data: December 2014 125.5 December 2015 127.5 December 2016 129.4 a. Calculate the inflation rates for the years ended December 2015 and December 2016. How did the inflation rate change in 2016? b.Why might these CPI numbers be biased? How can alternative price indexes avoid this bias

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