Question
The accompanying table contains two price indexes for the years $2011,2012,$ and $2013 ;$ the GDP deflator and the $\mathrm{CPL}$. For each price index, calculate the inflation rate from 2011 to 2012 and from 2012 to 2013 .
Step 1
The formula for calculating inflation rate is: \[ \text{{Inflation rate}} = \frac{{\text{{New Index}} - \text{{Old Index}}}}{{\text{{Old Index}}}} \times 100 \] Show more…
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The accompanying table contains two price indexes for the years $2011,2012,$ and 2013 : the GDP deflator and the CPI. For each price index, calculate the inflation rate from 2011 to 2012 and from 2012 to 2013 $$\begin{array}{|l|c|c|} \hline \text { Year } & \text { GDP deflator } & \text { CPI } \\ 2011 & 103.199 & 224.939 \\ 2012 & 105.002 & 229.594 \\ 2013 & 106.588 & 232.957 \end{array}$$
The accompanying table contains two price indexes for the years $2002,2003,$ and 2004: the GDP deflator and the CPI. For each price index, calculate the inflation rate from 2002 to 2003 and from 2003 to 2004 $$\begin{array}{|ccc|} \text { Year } & \text { GDP deflator } & \text { cPI } \\ \hline 2002 & 104.1 & 179.9 \\ 2003 & 106.0 & 184.0 \\ 2004 & 108.3 & 188.9 \end{array}$$
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