Use the following to answer questions:
-(Table: The Consumer Price Index (CPI)) Use Table: The Consumer Price Index (CPI). The inflation rate between 2011 and 2012 was _____%.
A) 10
B) 3.7
C) 1.4
D) 24.6

Question

Use the following to answer questions: 
-(Table: The Consumer Price Index (CPI)) Use Table: The Consumer Price Index (CPI). The inflation rate between 2011 and 2012 was _____%.
A) 10 
B) 3.7 
C) 1.4 
D) 24.6

Quizplus · Accepted Answer

To calculate the inflation rate, we need to subtract the CPI in 2011 from the CPI in 2012, divide by the CPI in 2011, and multiply by 100. ((226.2 - 223.2) / 223.2) x 100 ≈ 1.34, which rounds up to 1.4%. Therefore, the answer is C.

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