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Which of the following pairs of values of the Consumer Price Index (CPI) is consistent with an inflation rate of 5% from 2013 to 2014?

Select one:
A. CPI in 2013 = 90; CPI in 2014 = 94.5
B. CPI in 2013 = 102; CPI in 2014 = 105.4
C. CPI in 2013 = 90; CPI in 2014 = 100.2
D. CPI in 2013 = 100; CPI in 2014 = 110.3

Answer :

Final answer:

The correct pair of consumer price index (CPI) values consistent with an inflation rate of 5% from 2013 to 2014 is option A. CPI in 2013-90; CPI in 2014 = 94.5.

Explanation:

The question asks, which of the following pairs of values of the consumer price index (CPI) is consistent with an inflation rate of 5% from 2013 to 2014. The inflation rate can be calculated using the formula: [(CPI in 2014 - CPI in 2013) / CPI in 2013] * 100. Using this formula:

  • A. CPI in 2013-90; CPI in 2014 = 94.5, inflation rate = 5%
  • B. CPI in 2013-102; CPI in 2014 = 105.4, inflation rate = 3.33%
  • C. CPI in 2013-90; CPI in 2014 = 100.2, inflation rate = 11.33%
  • D. CPI in 2013 100; CPI in 2014 = 110.3, inflation rate = 10.3%

From the results, we can see that only option A results in a 5% inflation rate, therefore, the correct answer is option A.

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