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3 February, 19:21

Note that the CPI-based rate of inflation between 2015 and 2016 in the baseline scenario provided is 9.6%. Suppose, instead of rising from $2 to $2.50 between 2015 and 2016, the price of hamburgers rose to $3.50. What would be the rate of inflation

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  1. 3 February, 20:15
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    75%

    Step-by-step explanation:

    The price of hamburger rise from $2 to $2.50 between 2015 and 2016, if the price of hamburgers rose to $3.50 instated of $2.50 then the increase in price cal be calculated as thus;

    Note initial price is $2 and the new final price is $3.50,

    Increment = final price - initial Price

    Increment = $3.50-$2 = $1.50

    To calculate the rate of inflation,

    Rate of Inflation = increment/initial price * 100%

    Rate of Inflation = $1.50/$2 * 100

    Rate of inflation = 150/2

    Rate of inflation = 75%
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