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[10 points] Calculating Inflation 8. If the CPI was 240 last year and is 270 this year, what is this year's rate of inflation? b.

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[10 points] Calculating Inflation 8. If the CPI was 240 last year and is 270 this year, what is this year's rate of inflation? b. In contrast, suppose that the CPI was 220 in 2008 and 209 in 2009. What was the rate of inflation from 2008-2009? What term is used to describe this 2nd outcome? a

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