Asked by Brendan Aikin on Jul 02, 2024
Verified
Write the formula for finding the rate of inflation in 2011 if you have only the CPI for the years 2010, 2011, and 2012.
Rate of Inflation
The inflation of general prices for goods and services in an economy over a particular period of time.
CPI
A measurement known as the Consumer Price Index tracks the change in average costs for a variety of consumer goods and services, including but not limited to transportation, medical care, and food, through a weighted average formula.
- Find inflation rates by analyzing information from the Consumer Price Index.
Verified Answer
DD
Learning Objectives
- Find inflation rates by analyzing information from the Consumer Price Index.