Homework Answers
Inflation rate = [(CPI in current year-CPI in previous year)/CPI in previous year]*100
2010: Inflation rate = [(220-215.59)/215.59]*100 = (4.41/215.59)*100 = 2.05
2011: Inflation rate = [(226.04-220)/220]*100 = 2.75
2012: Inflation rate = [(232.8-226.04)/226.04]*100 = 2.99
2013: Inflation rate = [(235.97-232.8)/232.8]*100 = 1.36
2014: Inflation rate = [(239.77-235.97)/235.97]*100 = 1.61
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