Inflation rate implied by cpi change, Finance Basics

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Inflation rate implied by cpi change

Problem:

Assume the CPI increases from 137.4 to 140.6 over the period.

Required:

Question: What is the inflation rate implied by this CPI change over this period?

Note: Please provide equation and explain comprehensively and give step by step solution.

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Finance Basics: Inflation rate implied by cpi change

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Finance Basics: Inflation rate implied by cpi change

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