Question

Looking at some travel magazines, you read that the CPI in Turkey in 2002 was 6,912 and in Russia, it was 670. You do some further investigating and discover that the reference base period in Turkey is 1994 and in Russia it is 1995. The CPI in Russia in 1994 was 34.

By what percentage did prices rise in Turkey between 1994 and 2002?_________

By what percentage did prices rise in Russia between 1995 and 2002?_________

By what percentage did prices rise in Russia between 1994 and 1995?_________

By what percentage did prices rise in Russia between 1994 and 2002?_________

Answer 1

Answer
The %increase in price between year x and y=(CPI in year y-CPI in year x)/CPI in year x
.

By what percentage did prices rise in Turkey between 1994 and 2002?
=(6912-100)/100
=68.12
=6812%

By what percentage did prices rise in Russia between 1995 and 2002?
=(670-100)/100
=5.7
=570%
By what percentage did prices rise in Russia between 1994 and 1995?
=(100-34)/34
=1.94117647
=194.12%

By what percentage did prices rise in Russia between 1994 and 2002?
=(670-34)/34
=18.7058824
=1871%