Compute the inflation rate using the gdp deflator

Reference no: EM13209778

The following data is available for an economy. Compute the inflation rate (measured from year 1 to year 2) using the GDP deflator and taking as base first year 1 and then year 2

Price of Peanuts in Year 1 $1.60
Quantity of Peanuts in Year 1 275
Price of Beer in Year 1 $2.10
Quantity of Beer in Year 1 120

Price of Peanuts in Year 2 $1.65
Quantity of Peanuts in Year 2 270
Price of Beer in Year 2 $2.05
Quantity of Beer in Year 2 100

Reference no: EM13209778

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