This question is about how to calculate inflation rate.

What does a 5% inflation rate mean?

By Zippia Team - Mar. 27, 2023

A 5% inflation rate means the average cost of certain goods has increased by 5% over a certain period of time. For example, if the inflation rate of the price of gas from 2000 to 2020 is 5%, that means average gas prices increased by 5% over that 20-year span.

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