Here are some recent data on the US consumer price index: Year CPI Year CPI Year CPI 2016 240.0 2011 224.9 2006 201.6 2015 237.0 2010 218.1 2005 195.3 2014 236.7 2009 214.5 2004 188.9 2013 233.0 2008 215.3 2003 184.0 2012 229.6 2007 207.3 2002 179.9 Compute the inflation rate of each year 2003-2016 and determine which were years of inflation. In which years did deflation occur? In which years did disinflation occur? Was there hyperinflation in any year?

The formula for inflation rate using CPIs is: Inflation rate = Current CPI - Old CPIOld CPI x 100…

Answered: Here are some recent data on the US…

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Here are some recent data on the US consumer price index:

Year	CPI	Year	CPI	Year	CPI
2016	240.0	2011	224.9	2006	201.6
2015	237.0	2010	218.1	2005	195.3
2014	236.7	2009	214.5	2004	188.9
2013	233.0	2008	215.3	2003	184.0
2012	229.6	2007	207.3	2002	179.9

Compute the inflation rate of each year 2003-2016 and determine which were years of inflation. In which years did deflation occur? In which years did disinflation occur? Was there hyperinflation in any year?

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