Suppose that last year the Consumer Price Index was 124; this year it is 130.7. What was the inflation rate between these years?
A) 30.7 percent
B) 5.1 percent
C) 5.4 percent
D) 6.7 percent

Name: Suppose that last year the Consumer Price Index was 124; this year it is 130.7. What was the inflation rate between these years? A) 30.7 percent B) 5.1 percent C) 5.4 percent D) 6.7 percent
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Question

Quizplus · Accepted Answer

The inflation rate is calculated as ((130.7 - 124) / 124) * 100 = 5.4 percent.

Suppose That Last Year the Consumer Price Index Was 124;