DATA EXERCISE #2Part 2: The Inflation Rate (weight 30% of the assignment grade)Complete the following exercise:Visit the Bureau of Labor Statistics Web Site,www.bls.gov/news.release/cpi.toc.htm . Select Consumer Price Index Summary.Write a report (1-2 pages double – spaced) to answer the questions:What month (and year) is summarized? What was CPI-U for that month? What was the rate of inflation (percentage change in the CPI-U) for the month? How does that rate of inflation compare with the rate in the previous month?Which two categories of goods or services had the greatest price increase for the month?Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?Who loses from inflation?
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