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:

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

a

explanation:

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