If the Consumer Price Index (CPI) in 2015 was 243 and the CPI in 2016 was 248, then the inflation rate between 2015 and 2016 was _____ percent, and the inflation rate between the base year and 2016 was _____ percent.
A) 5; 48
B) 2.05; 148
C) 2.05; 48
D) 5; 148

Question

Quizplus · Accepted Answer

The inflation rate from 2015 to 2016 is calculated as [(248 - 243) / 243] * 100 = 2.05%. The inflation rate from the base year (assuming a base CPI of 100) to 2016 is [(248 - 100) / 100] * 100 = 148%.

If the Consumer Price Index (CPI) in 2015 Was 243