The inflation rate in the car is 42%.
What is the inflation rate?
Inflation Rate (CPI, annual variation in %) Inflation refers to an overall increase in the Consumer Price Index (CPI), which is a weighted average of prices for different goods.
Sarah bought a car last year to drive back and forth to work after she spent $1,098 on gas this year she spent $1,562.
Based on the above information, the calculation is as follows:
[tex]\rm Inflation \ rate=\dfrac{1562-1098}{1098}\\\\ Inflation \ rate=\dfrac{464}{1098}\\\\ Inflation \ rate=0.42\\\\ Inflation \ rate=0.42 \times 100\\\\ Inflation \ rate= 42 \ percent[/tex]
Hence, the inflation rate of the car is 42%.
Learn more about the inflation rate here;
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