Question

If a price index rose from 16.2 in 2010 to 22.5 in 2019, what would the inflation rate be over the period

Answer 1

Answer:

3.8%

Explanation:

The price rose from 16.2 to 22.5 from 2010 to 2019

16.2-22.5/16.2 ×100

= 6.3/16.2 × 100

= 0.38×100

= 3.8%