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3 years ago

If the price level in 2018 is 150 and it rises to 165 in 2019, what is the rate of inflation between 2018 and 2019

Business

1 answer:

VARVARA [1.3K]3 years ago

8 0

Answer:

10%

Explanation:

The price level in 2018 is 150

The price level in 2019 is 165

P1= 150

P2= 165

Therefore, the rate of inflation between 2018 and 2019 can be calculated as follows

P2-P1/P1

= 165-150/150

= 15/150

= 0.1×100

= 10%

Hence the rate of inflation between 2018 and 2019 is 10%

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