Asked by Steph Dutting on Apr 25, 2024
If the consumer price index (CPI) this year is 162 and last year it was 170,the inflation rate
A) is positive.
B) is negative.
C) has decreased since last year.
D) has increased since last year.
E) is the same as last year.
Consumer Price Index
The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a basket of consumer goods and services.
Inflation Rate
The pace at which the overall price level for goods and services increases, diminishing the buying power.
- Acquire knowledge on the mechanisms and effects of inflation and deflation, as determined by assorted price indices.
Learning Objectives
- Acquire knowledge on the mechanisms and effects of inflation and deflation, as determined by assorted price indices.