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Sagot :
The inflation rate in 2000 is 3.4%, in 2001 is 6.2%, in 2002 is 8.5% and in 2003 is 10.2%.
In the given question,
Entering January 2000, the price index for a basket of consumer goods was standardized at 100.
This price index increased to
103.4 in January 2001
106.2 in January 2002
108.5 in January 2003
110.2 in January 2004
We have to calculate the inflation rates in 2000, 2001, 2002, and 2003.
The formula of Inflation Rate is
Inflation Rate = (B−A)/A ×100
where A = starting cost
B=Ending cost
The Starting cost A=100
Now finding the inflation rate in 2000.
price index increased to 103.4 in January 2001.
So B=103.4
Inflation Rate = (103.4−100)/100 ×100
Inflation Rate = 3.4/100 ×100
Inflation Rate = 3.4%
The inflation rate in 2000 is 3.4%.
Now finding the inflation rate in 2001.
price index increased to 106.2 in January 2002.
So B=106.2
Inflation Rate = (106.2−100)/100 ×100
Inflation Rate = 6.2/100 ×100
Inflation Rate = 6.2%
The inflation rate in 2001 is 6.2%.
Now finding the inflation rate in 2002.
price index increased to 108.5 in January 2003.
So B=108.5
Inflation Rate = (108.5−100)/100 ×100
Inflation Rate = 8.5/100 ×100
Inflation Rate = 8.5%
The inflation rate in 2002 is 8.5%.
Now finding the inflation rate in 2003.
price index increased to 103.4 in January 2004.
So B=110.2
Inflation Rate = (110.2−100)/100 ×100
Inflation Rate = 10.2/100 ×100
Inflation Rate = 10.2%
The inflation rate in 2003 is 10.2%.
To learn more about inflation rate link is here
brainly.com/question/19263433
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