Assume that the consumer price index is 124.0 for 2018 and 130.7 for 2019. What was the inflation rate between these two years?
A)0.95%
B)0.95%.
C)5.40%
D)5.40%.
E)6.70%
F)6.70%.
G)3.20%
H)3.20%.

Question

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage change in the CPI from one year to the next. In this case, the CPI increased from 124.0 in 2018 to 130.7 in 2019, an increase of 6.70%.

Assume That the Consumer Price Index Is 124