Question

Identify the purchasing power using the

concept of cost of living index number. I'm have to do project..so pls somebody help. me..sure I will mark as branliest​

Answer 1

Answer:

To calculate the purchasing power, collect the CPI information from the Bureau of Labor Statistics. In January 1975, the CPI was 38.8 and in January 2018, was 247.9. Divide the earlier year by the later year and multiply by 100 to derive the CPI change during that period: (38.8 / 247.9) x 100 = 15.7 percent.

Step-by-step explanation:

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