From 1982 to 2012, the cumulative U.S. inflation rate was 95%. In 2012, the average price of a decent burger, fries, and a drink was $8.75. Find the equivalent price in 1982 dollars. Solution Inflation= [CPI(2012)-CPI(1982)]/CPI(1982) 0.95x=8.75-x 1.95x= 8.75 x=4.49$=4.5$ Cpi is the consumer price index.