Suppose the Consumer Price Index Was 180

question 311

Essay

Suppose the consumer price index was 180.5 last year and this year is 202.2. What is the rate of inflation between last year and this year? What is the rate of inflation between the base year and this year?

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Definitions:

Memorize Check

A feature in financial software that allows users to save the details of a written check for future reference or replication.

Automate

The use of technology to perform tasks with minimal human intervention.

Overdraw

Occurs when an account's balance goes below zero because more money has been withdrawn from the account than was available.

Sales Receipt

A document that provides evidence of a transaction in which goods or services are purchased and paid for in full at the time of the sale.