Asked by jesus salazar on May 28, 2024
Verified
If the CPI was 120 in 1994, was 126 in 1995, and was 134.82 in 1996, what was the inflation rate in 1995 and in 1996?
CPI
The Consumer Price Index represents a method for tracking the average weighted cost of various consumer goods and services, which is utilized to assess inflation levels.
Inflation Rate
The percentage increase in the price level of goods and services in an economy over a period of time, indicating how prices are rising on average.
- Assess the rate of inflation by examining CPI figures.
Verified Answer
VV
Villan VaranMay 29, 2024
Final Answer :
The inflation rate in 1995 was 5%, and the inflation rate in 1996 was 7%.
Learning Objectives
- Assess the rate of inflation by examining CPI figures.