Question: The Statistics Canada reported the following CPI data: June 2008 :217.3 June 2009 :214.6 June 2010 :216.9 3.1 Calculate the inflation rates for the years

The Statistics Canada reported the following CPI data:

June 2008 :217.3

June 2009 :214.6

June 2010 :216.9

3.1 Calculate the inflation rates for the years ended June 2009 and June 2010.

3.2 How did the inflation rate change in 2010?

3.3 Why might these CPI numbers be biased?

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