Question: Using 2013 as a base period, compute a simple price index for each of the following commodities. Interpret your results. Price in 2013 $2.49 $199

Using 2013 as a base period, compute a simple price index for each of the following commodities. Interpret your results.
Price in 2013 $2.49 $199 Price in 2014 Commodity Bread (loaf) Bus pass Clothing $2.58 $220 $1650.00 $1600.00

Price in 2013 $2.49 $199 Price in 2014 Commodity Bread (loaf) Bus pass Clothing $2.58 $220 $1650.00 $1600.00

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