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12)The CPI for 2020 March was 257.953. The CPI for 2020 April was 255.902. What was...

12)The CPI for 2020 March was 257.953. The CPI for 2020 April was 255.902. What was the inflation rate between these two months?

Select one:

a. -.0678

b. 0.801 %

c. -0.7951%

d. 0.2094%

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Answer #1

Answer- Correct option is 'c'

Inflation rate = (CPI for current period - CPI for previous period) / CPI for previous period * 100

Inflation rate = (CPIApril - CPIMarch) / CPIMarch * 100

                   =   (255.902 - 257.953) / 257.953 * 100

                   = (- 2.051 / 257.953) * 100

                   = - 0.7951

Inflation rate is - 0.7951 %

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