Find what would be the inflation rate for 2308

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Suppose a typical consumer buys 20 units of food and 10 units of clothes in the year 2307, when the price per unit of food is 100 and the price per unit of clothes is 200. In 2308, when the typical consumer buys 20 units of food and 20 units of clothes, the price of food is 110, while the price per unit of clothes remains at 200. If the base year is 2307, what would be the inflation rate for 2308?

Reference no: EM13245273

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