3. The consumer price index in the United States (base period 1982–1984) was 226.229 in 2012 and 229.324 in 2013. Calculate the inflation rate from 2012 to 2013.
Using Equation 13-2, the inflation rate from 2012 to 2013 is ((229.324 − 226.229)/226.229) × 100 = 1.4%.