3.7 index numbers

# 3.7 index numbers - 3.7 Index Numbers Price Indexes Compare...

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3.7 Index Numbers

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Price Indexes Compare 2 values of the same item measured at different points in time Expressed as a percent without the % sign Select a base period (normally the earliest period)
Using 2000 as the base period, compute the price index for each item and interpret: Calculator 2000 Index = 100 2008 Index = Price in 2008 Price Item Price in 2000 Price in 2008 Textbook \$74 \$85 Calculator \$49 \$39 2000 Index = 100 2008 Index = Price in 2008 Price

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Consumer Price Index (CPI) The Consumer Price Index (CPI) is an index that is used to compare prices of goods and services purchased by a typical urban Canadian family. The comparison is from the current base date of mid-2002 (where the base value = 100) to another selected date in time. CPI is calculated monthly by Statistics Canada.
Consumer Price Index (Canada) 2003 2004 2005 2006 2007 2002=100 Canada All-items 102.8 104.7 107 109.1 111.5 Food 101.7 103.8 106.4 108.9 111.8 Shelter 103.2 105.8 109.2 113.1 116.9 Household operations, furnishings and equipment 100.7 101.2 101.7 102.2 103.2 Clothing and footwear 98.2 98 97.6 95.8 95.7 Transportation 105.2 107.7 112 115.2 117.1 Health and personal care 101.4 102.8 104.6 105.9 107.3

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3.7 index numbers - 3.7 Index Numbers Price Indexes Compare...

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