Respuesta :
The inflation rate between years 1 and 2 is 2.13%
What is CPI?
CPI means consumer price index, the consumer price index measures the change in prices of a basket of goods and services from one period to another, like the change in prices or inflation rate from one year to another year.
The inflation rate can be expressed in the current year CPI divided by the prior year CPI as shown by the CPI formula shown below:
inflation rate=(CPI year 2/CPI year 1)-1
CPI year 2=245.1
CPI year 1=240
inflation rate=(245.1/240)-1
inflation rate=2.13%
The implication of the above computation is that the inflation rate between year 1 and year 2 is approximately 2.13% when rounded to 2 decimal places.
In other words, the prices of goods and services has increase by 2.13% on the average between the two years
Read more on CPI on:https://brainly.com/question/11397263
#SPJ1
