The consumer price index (CPI) is 150 in year 1, 156 in year 2, and 160 in year 3. What is the inflation rate for year 3? Round to nearest whole percentage.
A) 3%
B) 4%
C) 6%
D) 7%

Name: The consumer price index (CPI) is 150 in year 1, 156 in year 2, and 160 in year 3. What is the inflation rate for year 3? Round to nearest whole percentage. A) 3% B) 4% C) 6% D) 7%
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Question

Quizplus · Accepted Answer

The inflation rate for year 3 is calculated as ((160 - 156) / 156) * 100 = 2.56%, which rounds to 3%.

The Consumer Price Index (CPI) Is 150 in Year 1