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The table shows the natural gas price index of natural gas delivered to residential consumers in the United States. Consumers are charged per thousand cubic feet. (Note: The base year is 1983.) Was inflation of natural gas the highest in the 1970s, 1980s, or 1990s? Explain your reasoning.
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One way to answer this question is to use a spreasheet to graph the data.
In the 1970s, the CPI for natural gas increased about 50 units. In the 1980s and 1990s, it increased less than that. So, inflation of natural gas was highest in the 1970s.
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The table shows the natural gas price index of natural gas delivered to residential consumers in the United States. Consumers are charged per thousand cubic feet. (Note: The base year is 1983.) During which years did the price of natural gas decrease?
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The table shows the natural gas price index of natural gas delivered to residential consumers in the United States. Consumers are charged per thousand cubic feet. (Note: The base year is 1983.) Graph the natural gas price index from 1967 through 2009. Use the graph to describe the rate of inflation for natural gas.
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An easy way to graph the data is to use a spreadsheet.
The price of natural gas has been through 3 periods of growth.
(a) From 1967 to 1983, the price was increasing each year.
(b) From 1983 to 1999, the price was relatively constant.
(c) From 1999 to 2006, the price was increasing each year.
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The table shows the natural gas price index of natural gas delivered to residential consumers in the United States. Consumers are charged per thousand cubic feet. (Note: The base year is 1983.) Compare the rate of inflation for natural gas to the rate of inflation represented by the consumer price index.
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The table shows the natural gas price index of natural gas delivered to residential consumers in the United States. Consumers are charged per thousand cubic feet. (Note: The base year is 1983.) In 2009, the average price of natural gas per thousand cubic feet was $12.14. What was the price in 1970?
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Use the formula from Section 4.2.
So, the price of natural gas in 1970 was about $1.09 per 1000 cubic feet.
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The table shows the natural gas price index of natural gas delivered to residential consumers in the United States. Consumers are charged per thousand cubic feet. (Note: The base year is 1983.) In 2006, the average price of natural gas per thousand cubic feet was $13.73. What was the price in 1983?
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Would you rather pay a natural gas bill of $115.50 in 2004 or $92.35 in 1990? Explain your reasoning.
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Begin by making a table that compares the Consumer Price Index with your natural gas bill. (Note: Use the regular Consumer Price Index, not the CPI for Natural Gas.)
From 1990 to 2004, the CPI had a percent increase of
From 1990 to 2004, your natural gas bill had a percent increase of
So, your natural gas bill increased by a smaller percent than the general rate of inflation.
This means that you would be better paying a bill of $115.50 in 2004 than a bill of $92.35 in 1990.
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Do you think using a price index to compare prices between years is better than using a dollar amount? Explain your reasoning.
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