The U.S. consumer price index (CPI) was 240.85 in August 2016 and 245.52 in August 2017. How much was the inflation rate in August 2017? Group of answer choices 0.9% 1% 1.9% 2.9%
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Step 1: Calculate the inflation rate formula: Inflation Rate = ((CPI in August 2017 - CPI in August 2016) / CPI in August 2016) * 100 Show more…
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