Suppose the Consumer Price Index is 143.6. What does that number mean?
A)On average, goods cost $143.60.
B)On average, goods cost $243.60.
C)Prices rose 43.6 per cent over the reference base period, on average.
D)Prices rose 143.6 per cent over the reference base period, on average.

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) of 143.6 indicates that prices have risen by 43.6% compared to the reference base period, which is typically set at 100.

Suppose the Consumer Price Index Is 143