If the CPI were 100 in the base year and 110 in the following year, the inflation rate would be:

Name: If the CPI were 100 in the base year and 110 in the following year, the inflation rate would be:
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Question

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage increase in the CPI from the base year to the following year. The formula is ((CPI in the following year - CPI in the base year) / CPI in the base year) * 100. Here, ((110 - 100) / 100) * 100 = 10%.

If the CPI Were 100 in the Base Year and 110