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If the consumer price index changes from 125 in september to 150 in october, what is the rate of inf...
5 months ago
Q:
If the consumer price index changes from 125 in september to 150 in october, what is the rate of inflation?a. 20.0%b. 16.7%c. 9.1%d. 45.5%
Accepted Solution
A:
The rate of inflation is analogous to the percent difference of the original to the new price. Thus, its formula is written as:
Rate of Inflation = [New price - Base price]/Base Price * 100
Rate of inflation = (150 - 125)/125 * 100 = 20%
So, the answer is A.