Assume that the residents of the Koliner spend all of their income on apple, banana, and oranges. In 2008, they buy 50 of apple for $75, 100 bunches of banana for $200, and 500 oranges for $50. In 2009, they buy 80 of apple for $120, 75 bunches of banana for $225, and 500 oranges for $100.
1. Determine the price of each fruits in each year.
2. Calculate the CPI for each year by using the 2008 as the base year.
3. Calculate the inflation rate in 2009?