If the CPI was 110 this year and 100 last year,then
A)the cost of the CPI basket of goods and services increased by 10 percent this year.
B)the price level increased by 110 percent this year.
C)the inflation rate for this year was 10 percent higher than the inflation rate for last year.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

The CPI increased from 100 to 110, indicating a 10% increase in the cost of the basket of goods and services.

If the CPI Was 110 This Year and 100 Last