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What does it mean if the price index is 150? Prices are the same as in the base year. Prices are 50% higher than prices

What does it mean if the price index is 150? Prices are the same as in the base year. Prices are 50% higher than prices in the base year. Prices are 150% higher than prices in the base year. Prices are 150% lower than prices in the base year

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