Asked by Sheryar Gillani on May 30, 2024
Verified
If the CPI was 170 in 1998 and was 187 in 1999, what was the inflation rate in 1999?
CPI
The Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, typically used as an indicator of inflation.
Inflation Rate
The rate in percentage terms that indicates how quickly the average price level of goods and services escalates, diminishing the buying power.
- Calculate inflation rates using CPI data.
Verified Answer
AJ
Learning Objectives
- Calculate inflation rates using CPI data.