Answer :
Final answer:
The inflation rate is calculated by finding the percentage change in the Consumer Price Index (CPI) from one period to another. The inflation rate for 2022, given the CPIs of 123.9 and 125.5 for 2021 and 2022 respectively, can be computed to be approximately 1.3.
Explanation:
The inflation rate is calculated by finding the percentage change in the Consumer Price Index (CPI) from one period to another. It can be found using this formula: (CPI in the later year - CPI in the earlier year) / (CPI in the earlier year) * 100.
To calculate the inflation rate for 2022, we use the given CPIs for 2021 and 2022, which are 123.9 and 125.5 respectively. Plugging these values into the formula gives: (125.5 - 123.9) / 123.9 * 100 = 1.3. Therefore, the inflation rate during 2022 was approximately 1.3 .
Learn more about Inflation Rate here:
https://brainly.com/question/19263433
#SPJ11
