Inflation

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Give an example of a good or service that has increased in price since the time when you were young. Describe the good or service and tell us what price the good cost when you were young compared to today. Calculate the percentage change in price (the inflation rate for the good in question) over the time period you are describing. Similarly describe a good or service that has decreased in price since you were young. This one will be a little more difficult but if you think hard I'm sure you can come up with an example. You do not need to calculate the percentage change in price for the good that decreased in value.

Note the formula to calculate the percentage change in price is

[(new price - old price) / old price] x 100