Base Year (2013)…

                                         Base Year (2013)                                        Product Quantity 2013 Price      2013 Quantity 2018 Price      2018 Meat 100 $10 120 $12 Potatoes 200 2 180 3 Refer to the table above. Assume the market basket for the consumer price index has two products—meat and potatoes—with the following values in 2013 and 2018 for price and quantity: What is te Consumer Price Index for 2018? (Hint: Note that the amount of the goods in the baskets changed from 2013 to 2018. Therefore, you will need to calculate the value of the basket using the respective amount of goods in each basket).