I've come across a similar question (1991 paper q1) however in the solution for this question the rate change begins by bringing 2014 to 2015 levels, although from what I understood on your response this should already be included?
For april 2012 I've calculated the following:
Year Index
2007 .89776
2008 .945
2009 .945
2010 .9
2011 1
For 1991
2009 1.401
2010 1.273
2011 1.273
2012 1.158
2013 1.103
2014 1.05
2015 1
These are the changes I get if I approach each question the same way, I'm
Obviously misinterpreting something, could you please explain the difference between these two? And how to determine which approach to use in the exam.
Thank you,
Last edited by a moderator: Apr 23, 2015