Answer:
10%
Explanation:
The price level in 2018 is 150
The price level in 2019 is 165
P1= 150
P2= 165
Therefore, the rate of inflation between 2018 and 2019 can be calculated as follows
P2-P1/P1
= 165-150/150
= 15/150
= 0.1×100
= 10%
Hence the rate of inflation between 2018 and 2019 is 10%
