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1 March, 20:43

For an imaginary economy, the value of the consumer price index was 140 in 2013 and 146.5 in 2014. The economy's inflation rate for 2014 was:

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  1. 1 March, 21:10
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    4.64%

    Explanation:

    The computation of the economy inflation rate is presented below:

    = (Consumer price index in 2014 - Consumer price index in 2013) : (Consumer price index in 2013) * 100

    = (146.5 - 140) : (140) * 100

    = (6.5) : (140) * 100

    = 4.64%

    We simply applied the above formula so that the economy's inflation rate could come
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