This table shows the values of the Canadian consumer price index (CPI)for the years 1998 - 2005.

-Using the data in the table above,the rate of inflation between 2002 and 2003 was
A) 2.8%.
B) 2.7%.
C) 3.2%.
D) 4.2%.
E) 5.1%.

Question

This table shows the values of the Canadian consumer price index (CPI)for the years 1998 - 2005.
 
-Using the data in the table above,the rate of inflation between 2002 and 2003 was
A) 2.8%. 
B) 2.7%. 
C) 3.2%. 
D) 4.2%. 
E) 5.1%.

Quizplus · Accepted Answer

The rate of inflation is calculated by taking the difference in the Consumer Price Index (CPI) between 2003 and 2002, dividing by the CPI in 2002, and then multiplying by 100 to get a percentage. The correct calculation results in 2.8%.

This Table Shows the Values of the Canadian Consumer Price