Inflation

The Consumer Price Index was $\displaystyle 108.6$ in August $\displaystyle 2019$ and $\displaystyle 130.2$ in August $\displaystyle 2023$.
Calculate the total percentage increase in prices over that period.
Give your answer to 1 decimal place.

The Consumer Price Index rose from a baseline of $\displaystyle 100$ to $\displaystyle 121.8$.
Calculate what $\displaystyle \pounds 500$ at the baseline is worth in real terms at the later date.
Give your answer to the nearest penny.

Prices rose by $\displaystyle 3.1\%$, then $\displaystyle 2.4\%$, then $\displaystyle 1.8\%$ in three successive years.
Calculate the overall percentage increase over the three years.
Give your answer to 2 decimal places.

An item cost $\displaystyle \pounds 240$ and inflation over the next $\displaystyle 4$ years averaged $\displaystyle 2.6\%$ per year.
Calculate the expected cost of the item after $\displaystyle 4$ years.
Give your answer to the nearest penny.

The Consumer Price Index (CPI) in the UK in April 2021 was 110.4, relative to a baseline of 100 in April 2015.

(a) Explain what this figure means in terms of relative purchasing power.

The price of a new 3-door car rose in line with CPI between April 2015 and April 2021. In 2021, the price of a new 3-door car was £14,108.

(b) Calculate the price of a new 3-door car in April 2015.

The National Living Wage is the minimum hourly rate to be paid to any employee aged 23 or older. In April 2021, the National Living Wage was £8.91. This was raised to £9.50 in April 2022.

(c) Given that the CPI in April 2022 was 119.0, determine whether this rise in the National Living Wage was in line with inflation.