Is consumer price index the same as inflation?
If the consumer price index in 2006 was 150 and the consumer price index in 2007 was 165, why would the rate of inflation between 2006 and 2007 be 10 percent?
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Answer:
First, the inflation rate is more than just the consumer price index. Second, the jump of 15 points is 10% of 150. Thanks!
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