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What is the percentage decrease in buying power of currency

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Problem 1: If prices increase 4% each year for 10 years, then a jacket that costs $40 today will cost $59.21 in 10 years. What is the percentage decrease in the buying power of currency over the 10-year period? (Round your answer to one decimal place.)

Problem 2: Suppose the buying power of a dollar decreases by 2% this year. What is the rate of inflation this year?

Problem 3: Suppose the CPI increases this year from 204 to 215. What is the rate of inflation for this year?

Reference no: EM132902887

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