The consumer price index in 1979 was 72.6. In 1980, it was 82.4. What was the rate of inflation from 1979 to 1980?
A) 13.5%
B) 11.89%
C) 17.6%
D) 9.8%

Name: The consumer price index in 1979 was 72.6. In 1980, it was 82.4. What was the rate of inflation from 1979 to 1980? A) 13.5% B) 11.89% C) 17.6% D) 9.8%
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

The rate of inflation is calculated by the formula [(New CPI - Old CPI) / Old CPI] * 100. So, [(82.4 - 72.6) / 72.6] * 100 = 13.5%.

The Consumer Price Index in 1979 Was 72