Elucidate what term do economists utilize

Reference no: EM1329336

CPI Analysis

If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation? What term do economists use to describe this second outcome?

Reference no: EM1329336

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