The CPI basket price for two consecutive years in five different economies are given. Determine the rate of inflation for each economy. Then order the tiles from least to greatest inflation rate.
Year 1 = $73.00
Year 2 = $74.30
Year 1 = $75.00
Year 2 = $76.15
Year 1 = $88.00
Year 2 = $89.25
Year 1 = $72.50
Year 2 = $73.75
Year 1 = $79.00
Year 2 = $80.25

When you have a lot of repetitive calculation to do, it is convenient to let a spreadsheet do it. Copying the given data to the spreadsheet ensures we have made no data entry errors.

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The inflation rate is calculated as ...

(year 2 price)/(year 1 price) -1 . . . . . expressed as a percentage

The attachment shows the results of this calculation as applied to the economies in the order shown. The least-to-greatest order is shown in the right-most column.

claudettemartinez claudettemartinez · Answer 2 · 2021-02-11T18:04:30+01:00

claudettemartinez claudettemartinez

11-02-2021

(From Least to Greatest order)

Year 1 = $88.00 / Year 2 = $89.25

<

Year 1 = $75.00 / Year 2 = $76.15

<

Year 1 = $79.00 / Year 2 = $80.25

<

Year 1 = $72.50 / Year 2 = $73.75

<

Year 1 = $73.00 / Year 2 = $74.30

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