Commodity Market Basket Quantity 2001 price 2002 price
RICE 30LBS $3.00 $3.60
APPLES 25LBS $3.50 $3.75
Assuming that 2001 is the base year. what is the price index for 2002?
In 2002, the price index is _____. ( round your answer to two decimal places).
The inflation rate between 2001 and 2002 is ___%( round your answer to two decimal places).