The bureau of labor statistics reported the consumer price index as 211.4 in december 2007, and 231.1 in december 2012. by what

Question

3 years ago

5

percentage did the index increase from the end of 2007 to the end of 2012 (rounded to one decimal place)?
a. 0.093%
b. 9.0%
c. 9.3%
d. 19.7%

1 answer:

Anvisha [2.4K] · Answer 1 · 2022-06-28T00:35:47+03:00

The first step to determine the percentage of increase is to compute for the difference of consumer price index in value.

231.11 (consumer price index for 2012) – 211.4 (consumer price index for 2007) = 19.71 (increase)

To compute for the percentage of increase, you need to compare the increase to the consumer price index for 2007.

19.71/211.4 = 9.3% increase