If the year 2000 is used as a base year and the value of the price index in 2001 is 105, it implies that there was a 5% increase in the price level in 2001.

Name: If the year 2000 is used as a base year and the value of the price index in 2001 is 105, it implies that there was a 5% increase in the price level in 2001.
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A price index of 105 in 2001 compared to a base year value of 100 in 2000 indicates a 5% increase in the price level.

If the Year 2000 Is Used as a Base Year