The base period value of the CPI is 1000. If the March 2022 value of the CPI is 1150 then a. We cannot conclude anything as the values of price indices mean nothing  b. The annual inflation rate is 15%c an item that cost $1000 in the base period costs $1150 in the March 2022 quarter D. prices overall are 15% higher in March 2022 than they were in the base period

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Your Question:

The base period value of the CPI is 1000. If the March 2022 value of the CPI is 1150 then

a. We cannot conclude anything as the values of price indices mean nothing 

b. The annual inflation rate is 15%
c an item that cost $1000 in the base period costs $1150 in the March 2022 quarter

D. prices overall are 15% higher in March 2022 than they were in the base period

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