QUESTION $27$

Assume that the Consumer Price Index $($CPI$)$ for June $2023$ is $246\mathrm{.}50.$ Interpret this number.

Itranscript

a$.$ output has increased by $246\mathrm{.}5\%$

b$.$ the price level for all goods has increased by $246\mathrm{.}596$

c$.$ the inflation rate between June $2023$ and the previous year is $246\mathrm{.}5\%$

d$.$ a basket of consumer goods that cost $$100$ in the base year would cost $$246\mathrm{.}50$ in June $2023$

e$.$ purchasing power has decreased by $246\mathrm{.}6\%$