As reported by the Bureau of Labor Statistics, the CPI for 2005 was 585.0 (using a base

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As reported by the Bureau of Labor Statistics, the CPI for 2005 was 585.0 (using a base year of \(1967=100\) ). The CPI for 2006 was 603.9 . Based on this data, what was the inflation rate for 2006 ?

a. 3.23 percent

b. 5.85 percent

c. 6.04 percent

d. 18.9 percent

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