a-gallon-of-milk-cost-120-in-1990-when-the-cpi-was-1307-if-the-cpi-in-2020-is-25

Question

A gallon of milk cost $1.20 in 1990 when the CPI was 130.7. If the CPI in 2020 is 258.8, what is the equivalent cost of the milk in 2020 dollars?

Accepted Answer

$2.38

Answer

$2.50

Answer

$2.00

Answer

$1.80

A gallon of milk cost \$1.20 in 1990 when the CPI was 130.7. If the CPI in 2020 is 258.8, what is the equivalent cost of the milk in 2020 dollars?