Question

The monthly market basket for consumers consists of​ pizza, t-shirts, and rent.  

The table below shows market basket quantities and prices for the base year​ (Year 1) and in the following two years.

Product	Base Year​ (Year 1) Quantity	Price in the Base Year	Price in Year 2	Price in Year 3
Pizza	25	​$2.00	​$2.50	​$2.60
​T-Shirts	4	​$15.00	​$13.50	​$15.75
Rent	1	​$450.00	​$495.00	​$585.00

The inflation rate between Year 1 and Year 2 is

nothing​%.

​ (Round

both answers to one decimal

place.​)

The inflation rate between Year 2 and Year 3 is

nothing​%.

Answer 1