Solved: What is the years rate of inflation, Microeconomics

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What is the years rate of inflation

Question: If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation? What term do economists use to describe this second outcome?

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Microeconomics: What is the years rate of inflation

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