Suppose that the Consumer Price Index (CPI) in 2017 is 100 and in 2018 is 108. The inflation rate between 2017 and 2018 is _____ percent.
A) 10
B) 8
C) 6
D) 4

Question

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage change in the CPI from one year to the next. The formula is: [(CPI in 2018 - CPI in 2017) / CPI in 2017] * 100 = [(108 - 100) / 100] * 100 = 8%.

Suppose That the Consumer Price Index (CPI) in 2017 Is