At the End of Last Year, the CPI Equaled 120

Multiple Choice

At the end of last year, the CPI equaled 120. At the end of this year, the CPI equals 132. What is the inflation rate over this year?

A) 10 percent
B) 6 percent
C) 12 percent
D) None of the above answers are correct because more information is needed to calculate the inflation rate.