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QUESTION 2 7 Assume that the Consumer Price Index ( CPI ) for June 2 0 2 3 is 2 4 6 . 5 0

QUESTION 27
Assume that the Consumer Price Index (CPI) for June 2023 is 246.50. Interpret this number.
a: output has increased by 246.5%
b. the price level for all goods has increased by 246.5%
c. the inflation rate between June 2023 and the previous year is 246.5%
d. a basket of consumer goods that cost $100 in the base year would cost $246.50 in June 2023
e. purchasing power has decreased by 246.6%
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