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2  · Consumer Price Index = (Value of Market Basket in the Given Year / Value of Market Basket in the Base Year) * 100. Consumer Price Index = ($48.65 / $43.00) * 100. Consumer Price Index = 113.14. Therefore, the Consumer Price Index for the year 2019 stood at 113.14, which means the average price increased by 13.14% during the last four years.

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