Use the following to answer questions:
-(Table: The Consumer Price Index (CPI)) Look at the table The Consumer Price Index (CPI). The inflation rate between 2011 and 2012 was:
A)10%.
B)3%.
C)1.4%.
D)24.6%.

Question

Use the following to answer questions: 
-(Table: The Consumer Price Index (CPI)) Look at the table The Consumer Price Index (CPI). The inflation rate between 2011 and 2012 was:
A)10%. 
B)3%. 
C)1.4%. 
D)24.6%.

Quizplus · Accepted Answer

To find the inflation rate between 2011 and 2012, we need to calculate the percentage change in CPI from 2011 to 2012 [(CPI in 2012 - CPI in 2011)/CPI in 2011 x100]. Plugging in the values from the table, we get: [(225.672-222.898)/222.898 x100] = 1.24%. Rounding to one decimal place, the inflation rate between 2011 and 2012 was 1.4%. Therefore, the correct answer is C.

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