Consider the Following Basket of Goods: 15 Lollipops, 10 Bars

Multiple Choice

Consider the following basket of goods: 15 lollipops, 10 bars of chocolate, four jars of peanut butter, and two ice-cream cakes. Suppose that in 1999, each lollipop was 10 cents, each bar of chocolate was $1.50, each jar of peanut butter was $2.50, and each ice-cream cake was $7.99. In 2018, each lollipop was 80 cents, each bar of chocolate was $3.75, each jar of peanut butter was $4.25, and each ice-cream cake was 12.99. What was the rate of inflation between 1999 and 2018?

A) 117.7%
B) 17.7%
C) 217.7%
D) 7.7%