The inflation rate is defined as the

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The inflation rate is the percentage change in the price level from one period to the next. It measures how much prices have risen or fallen over a specific period of time, typically a year. Option A incorrectly defines the price level as the inflation rate itself. Option B defines the change in the price level, but does not express it as a percentage. Option D calculates the difference between two price levels but does not express it as a percentage.

The Inflation Rate Is Defined as the