The consumer price index and inflation from year 1 to 2 are 102 and 2% respectively.
What is the consumer price index?
The consumer price index measures the changes in 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
(25.50 / 25) X 100 = 102.
Inflation is the persistent rise in the general price level of goods and services.
Inflation = (25.5 / 25) - 1 = 2%
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