Question

Between 2000 and 2013, the CPI rose from 169.3 to 231.3. This implies that the average annual rate of inflation over the period was:

Answer 1

Answer: 36.62 %

Step-by-step explanation:

Given: Between 2000 and 2013, CPI in first period = 169.3

CPI in second period = 231.3

The average annual rate of inflation over the period =
`\frac{\text{ CPI in second period - CPI in first period}}{\text{CPI in first period}}*100\%`

`=(231.3-169.3)/(169.3)*100=36.62\%`

Hence, the average annual rate of inflation over the period was =36.62%