Answer: 8.3%
Explanation:
From the question, we are informed that the consumer price index is 230 in year 1 and 249 in year 2. The approximate percentage change in prices between the two years goes thus:
= (New CPI - Old CPI)/Old CPI × 100
=(249 - 230)/230 × 100
= 19/230 × 100
= 0.083 × 100
= 8.3%
