The Central Bank of Trinidad and Tobago reported that the Consumer Price Index (CPI) rose from 120 to 126 over one year. What was the rate of inflation for that year?

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Question

The Central Bank of Trinidad and Tobago reported that the Consumer Price Index (CPI) rose from 120 to 126 over one year. What was the rate of inflation for that year?

Accepted Answer

5% — 5%. Award 1 mark for correct calculation: [(126-120)/120] × 100 = 5%. B is incorrect — this would require a rise to 127.2. C is incorrect — miscalculation. D is incorrect — confuses percentage change with absolute difference.

Answer

5%

Answer

6.5%

Answer

20%

Answer

6%

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