Hi,
I have been struggling to answer this question. Little help from you will mean a lot to me! If you can tell me how to solve problem step-by-step, it will be great.
<Price of Soya Beans>
Price in $/tonne (Dec 31) CPI (Jan 1-Dec 31)
Year 5 $359 +1.7%
Year 6 $375 +2.1%
Question: What was the effective increases in the price of Soya beens in Year 6, compared to Year 5, if the CPI had been taken into account?
Thanks a lot.