The following table illustrates the CPI for Country W from Year 2020 to Year 2022.
Year 2020 2021 2022
CPI 104 110 122
i. Calculate the country's inflation rate in Year 2021 and 2022. ii. Country W imports fuel worth approximately 15% of the country's Gross Domestic Product. Using an AD-AS diagram, explain the type of inflation that Country W experiences when world market price of crude oil rises. iii. Briefly explain how monetary policy can be used to control the inflation in part (ii). (6 marks)