The general inflation rate for oil industry for the 2007 calendar year can be found using...
The general inflation rate for oil industry for the 2007 calendar year can be found using the producer price index (from www.bls.gov). When (PPI)2007=267 and Estimated Inflation Rate is 11%, find (PPI)2006?
Homework Answers
(PPI2007-PPI2006)/PPI2006=Inflation rate
Hence,
PPI2006=PPI2007/(1+inflation
rate)=267/(1+11%)=240.5405405
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The general inflation rate for oil industry for the 2007
calendar year can be found using...
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