A Recent Monthly Press Release on the Consumer Price Index

question 11

Multiple Choice

A recent monthly press release on the Consumer Price Index says: "The Consumer Price Index for All Urban Consumers (CPI-U) dropped 0.1 percent in August, before seasonal adjustment, to a level of 218.8 (1982-84 = 100) , the Bureau of Labor Statistics of the U.S. Department of Labor reported today."
The CPI was 208.5 in September 2007 and 218.8 in September, 2008. By what percent did the CPI increase in this 12-month period?

• A) 0.05%
• B) 0.49%
• C) 4.9%
• D) 49.4%
• E) 104.9%

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