In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56. What was the specific inflation rate for gasoline during this period?
In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56. What was the specific inflation rate for gasoline during this period?
Chapter17: Inflation
Section: Chapter Questions
Problem 5SQ
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![In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value
of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56.
What was the specific inflation rate for gasoline during this period?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8c0ef31b-75a9-41b1-ada2-c243e114a1f7%2F88bdecd0-a2f2-4d2d-a0cf-27a7edfb4424%2Fxfkeh8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value
of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56.
What was the specific inflation rate for gasoline during this period?
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