If the CPI was 228 at the end of 2016 and 236 at the end of 2017, what was the inflation rate in 2017?
A)3.5 percent
B)3.4 percent
C)236 percent
D)8 percent
E)4 percent

Question

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage increase in CPI from one period to the next. The formula is: [(CPI in 2017 - CPI in 2016) / CPI in 2016] * 100 = [(236 - 228) / 228] * 100 = 3.5 percent.

If the CPI Was 228 at the End of 2016