| Variable | ADF test value | The critical value at the 1% level | The critical value at the 5% level | The critical value at the 10% level | P values | Conclusion |
| CPI | −320194 | −3.479656 | −2.883073 | −2.578331 | 0.9177 | Non-stationary |
| M0 | −2.488793 | −3.484653 | −2.885249 | −2.579491 | 0.1207 | Non-stationary |
| M1 | 0.225702 | −3,480038 | −2.883239 | −2.578402 | 0.9733 | Non-stationary |
| M2 | 2.070928 | −3.484653 | −2.885249 | −2.579491 | 0.9999 | Non-stationary |