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 143.6 percent over the reference base period, on average.
D) Prices rose 43.6 percent over the reference base period, on average.

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households. A CPI of 143.6 means that prices have increased by 43.6% over the reference base period (usually set to 100).

Suppose the Consumer Price Index Is 143