Final answer:
To calculate the inflation rate for medical care, subtract the previous year's CPI index value from the expected index value for the next year, divide by the old value, and multiply by 100.
Step-by-step explanation:
The correct answer to the given question of calculating the inflation rate for medical care can be found using the percentage change formula.
To find the inflation rate, you would subtract the old index value from the new index value, divide the result by the old index value, and then multiply by 100 to get a percentage. Specifically, the inflation rate can be calculated as follows:
\((491 - 442) / 442 \times 100\) = 11.09%
Therefore, the estimated inflation rate for medical care is 11.09% when rounded to two decimal places.
The inflation rate for medical care can be calculated by finding the percentage change in the index value. The formula for calculating the percentage change is:
Percentage Change = ((New Value - Old Value) / Old Value) * 100
Using this formula, we can calculate the inflation rate for medical care as follows:
Percentage Change = ((491 - 442) / 442) * 100 = 11.08%
Therefore, the inflation rate for medical care is 11.08%.