Given that the Consumer Price Index was 72.6 in 1979 and 82.4 in 1980, find the inflation rate from 1979 to 1980 to the nearest hundredth of a percent.

Answer 1

82.4/72.6 = 1.1349 or 13.45%

Answer 2

inflation rate (increase)
=(new value-old value)/old value
=(82.4-72.6)/72.6
=9.8/72.6
=.134986
=13.4986%
=13.50% (to the nearest hundredth of a percent)

Answer 3

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