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If the CPI was 110 last year and is 126 this year, what is this years rate of inflation? Instructions: Round your answer to two

If the CPI was 110 last year and is 126 this year, what is this years rate of inflation? Instructions: Round your answer to two decimal places. _ % In contrast, suppose that the CPI was 110 last year and is 107 this year. What is this years rate of inflation? Instructions: Round your answer to two decimal places. % What term do economists use to describe this second outcome? Inflation or Deflation

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