-Refer to Table 6.12. If 1998 is the base year, the inflation rate between 1998 and 1999 is _______%, and the inflation rate between 1998 and 2000 is _______%.
A) 24.1; 8.4
B) 20.5; 10.5
C) 18.3; 20
D) 12.7; 5.9

Question

-Refer to Table 6.12. If 1998 is the base year, the inflation rate between 1998 and 1999 is _______%, and the inflation rate between 1998 and 2000 is _______%.
A) 24.1; 8.4 
B) 20.5; 10.5 
C) 18.3; 20 
D) 12.7; 5.9

Quizplus · Accepted Answer

The inflation rate is calculated using the formula: ((CPI in later year - CPI in base year) / CPI in base year) * 100. The correct rates are derived from the given CPI values for the respective years.