- 26 Over The Past 10 Years The Average Inflation Rate In The United States Was 1 8 Percent Per Year Due To Large Gover 1 (24.28 KiB) Viewed 21 times
26. Over the past 10 years, the average inflation rate in the United States was 1.8 percent per year. Due to large gover
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26. Over the past 10 years, the average inflation rate in the United States was 1.8 percent per year. Due to large gover
26. Over the past 10 years, the average inflation rate in the United States was 1.8 percent per year. Due to large government deficits related to COVID, the Russian invasion of Ukraine, and projected deficits for new proposed social programs, the current inflation rate is 8.7 percent per year. If the inflation rate (i.e., the annual price increase) of a loaf of bread (assume a loaf of bread now costs $2.49), what will be the DIFFERENCE in the price of a loaf of bread 10 years from today (assuming an annual inflation rate of 8.7 percent instead of 1.8 percent)?