Between 2015 and 2016, the country of West Fredonia experienced a growth rate of -2.6%. If nominal GDP had increased by 3.5% and the population growth was recorded as 0.6%, then calculate the annual inflation rate in West Fredonia. Give your answer to one decimal.

5.5%

Explanation:

Nominal GDP = 3.5%

Economic growth rate = -2.6 %

population growth = 0.6%

To calculate the annual inflation rate :

Economic growth rate = Nominal GDP - %change in price - population growth

-2.6 = 3.5 - %change in price - 0.6  

Therefore the %change in price ( inflation rate ):

inflation rate = 3.5 + 2.6 - 0.6

                      = 3.5 + 2

                       = 5.5%

The inflation rate of a country measures the relative increase increase in the price of commodities without a relative increase in purchasing power

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )