The table shows consumer price index data for the United Kingdom. Based on this information, what is the rate of inflation in 2018?
UK CONSUMER
PRICE INDEX
$\begin{array} { | l | l | }
\hline YEAR & CPI \
\hline 2013 & 98.2 \
\hline 2014 & 99.6 \
\hline 2015 & 100 \
\hline 2016 & 101 \
\hline 2017 & 103.6 \
\hline 2018 & 106 \
\hline
\end{array}$
A)2.32%
B)0.40%
C)1.43%
D)2.57%

Question

The table shows consumer price index data for the United Kingdom. Based on this information, what is the rate of inflation in 2018?
UK CONSUMER 
PRICE INDEX
$\begin{array} { | l | l | } 
\hline YEAR & CPI \
\hline 2013 & 98.2 \
\hline 2014 & 99.6 \
\hline 2015 & 100 \
\hline 2016 & 101 \
\hline 2017 & 103.6 \
\hline 2018 & 106 \
\hline
\end{array}$
A)2.32%
B)0.40%
C)1.43%
D)2.57%

Quizplus · Accepted Answer

The rate of inflation is calculated by dividing the change in CPI by the previous year's CPI and multiplying by 100. In this case, the change in CPI from 2017 to 2018 is 106 - 103.6 = 2.4. The previous year's CPI is 103.6. So, the rate of inflation in 2018 is (2.4 / 103.6) * 100 = 2.32%.

The Table Shows Consumer Price Index Data for the United