The table below lists the per gallon prices of gas and milk for the months of April, May, and June

| November 24, 2016

The table below lists the per gallon prices of gas and milk for the months of April, May, and June. Assume that the typical consumer buys 60 gallons of gas and 4 gallons of milk each month, and that April is the base period.

Month

Price of Gas

Price of Milk

April

$2.00

$3.50

May

$3.50

$3.25

June

$3.85

$3.58

Refer to Table 24-9. What is the consumer price index for May?
60

132

166

123

ANSWER: c

Refer to Table 24-9. What is the inflation rate for May?

66.4%
60.1%

-4.1%

10%

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