Suppose the typical household spends $3,500 on goods and services during the month of january, and $4,300 on the same goods and services in february. using january as the base period, what is the consumer price index for february?

The consumer price index for February is 122.85

Explanation:

Consumer price index: It shows a change in  prices for different years in different products and service.

In this question, we use the formula of Consumer price index which is shown below

= Good and services spend on February month ÷ Good and services spends on January month × 100

= $4,300 ÷ $3,500 × 100

= 1.2285  × 100

=122.85

In the question, it is given that take the January month as the base year so we do the same.

Hence, the consumer price index for February is 122.85