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wariber [46]
2 years ago
10

The CPI for this year was reported at 163.65. If inflation was 3.1 percent, what must the CPI have been last year

Business
1 answer:
otez555 [7]2 years ago
3 0

The consumer price index last year must have been 158.58.

<h3>What was the consumer price index last year?</h3>

The consumer price index is used to measure inflation. It does this by measuring the changes in the price of a basket of good.

CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100

CPI last year = (100 - 3.1) x 163.65 = 158.58

To learn more about, consumer price index, please check: brainly.com/question/26382640

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