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Suppose that the annual inflation rate is 3% in US, the spot exchange rate is $1 = 0.6590 and the annual forward exchange rate is

Suppose that the annual inflation rate is 3% in US, the spot exchange rate is $1 = 0.6590 and the annual forward exchange rate is 1=$1.5500. Using PPP, what must the annual inflation rate be in the UK? Enter percent, round to 2 decimal places

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