The consumer price index was 177.1 in 2001 and 179.9 in 2002.Therefore, the rate of inflation in 2002 was about
A)2.8 percent.
B)3.4 percent.
C)1.6 percent.
D)4.1 percent.

Name: The consumer price index was 177.1 in 2001 and 179.9 in 2002.Therefore, the rate of inflation in 2002 was about A)2.8 percent. B)3.4 percent. C)1.6 percent. D)4.1 percent.
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Quizplus · Accepted Answer

The rate of inflation is calculated as ((179.9 - 177.1) / 177.1) * 100 = 1.58%, which rounds to 1.6 percent.

The Consumer Price Index Was 177