If the CPI This Year Is 175

question 383

Essay

If the CPI this year is 175.2 and next year the CPI is 176.1, what was the inflation rate over the year?

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Definitions:

Chobani

A US-based company known for producing yogurt and other dairy and plant-based products.

Hamdi Ulukaya

Founder of Chobani, a popular yogurt company, known for his innovative business practices and philanthropy.

Possession Utility

The value or benefit that comes from owning a product and being able to use it.

Smartphone

A mobile phone that incorporates advanced computing capability and connectivity, allowing for both traditional telecommunications and functions such as internet browsing, app usage, and multimedia entertainment.