Question
The most recent Consumer Price Index numbers (for the month of December 2022) were released on January 12. The report showed that the overall CPI
The most recent Consumer Price Index numbers (for the month of December 2022) were released on January 12. The report showed that the overall CPI experienced a modest 0.1 percent decrease for the month of December, but the core CPI experienced a 0.3 percent increase over the same month. The overall inflation rate was 6.5% for the year, taking these monthly numbers into account.
The interpretation of these numbers means that
Group of answer choices
O. prices for housing increased, even though the cost of the overall market basket decreased.
O. prices for cars and trucks increased, even though the cost of the overall market basket decreased.
O. prices for food and energy increased, even though the cost of the overall market basket decreased.
O. the purchasing power of the dollar is 6.5% higher at the end of 2022 than it was at the beginning.
O. an item which had a constant price of $10 throughout the year 2022 increased in real price by 6.5%.
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