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Consider the CPI series of the hypothetical economy, Meanchester United, from 2015 - 2021 (base period 2015) provided below. Determine the rate of inflation (hint,

Consider the CPI series of the hypothetical economy, Meanchester United, from 2015 - 2021 (base period 2015) provided below. Determine the rate of inflation (hint, you will need to determine the percentage change in CPI) from the year 2015 to the year 2021. Give your answer to ONE Decimal place (do not include % in your answer).

Year (t)

CPI t, 2015

2015

100

2016

102.2

2017

105.0

2018

106.7

2019

108.5

2020

110.4

2021

115.9

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