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10 cards from this deck
General increase in price of goods and services over time
Percentage - average increase in cost from one period to another
You can buy less with same money unless income increases too
ext{Original Price} imes (1 + rac{ ext{Rate}}{100})
Each year uses previous year's inflated price as base
rac{ ext{New - Old}}{ ext{Old}} imes 100
Use already-inflated price from previous year as starting point
New Price - Original Price
Represent essential household purchases made regularly
Identify if calculating new price or inflation rate
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