Gas was $1.98 per gallon. Today it is $3.05 per gallon. What is the rate of inflation? Step 1. Find the difference. 3.05 - 1.98 = 1.07 Step 2. Take the difference and divide it by the original number. 1.07/1.98 = 0.54 Step 3. Multiply this number by 100. 0.54 X 100 = 54% rate of inflation. Social Science Lesson of the day. Does this increase hurt the working person or the wealthy person the most and why?
Financial Literacy Lesson of the Day. Topic Inflation.
Updated: May 5, 2023
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