1. The problem is to find the inflation rate. 2. Inflation rate is typically calculated using the formula: $$\text{Inflation Rate} = \frac{\text{Price Level in Current Year} - \text{Price Level in Previous Year}}{\text{Price Level in Previous Year}} \times 100\%$$ 3. This formula measures the percentage change in the price level from one year to the next. 4. To calculate, you need the price levels (or Consumer Price Index values) for two consecutive years. 5. Subtract the previous year's price level from the current year's price level. 6. Divide the result by the previous year's price level. 7. Multiply by 100 to convert to a percentage. 8. This percentage is the inflation rate, indicating how much prices have increased or decreased. Since no specific price levels were provided, the formula above is the general method to find the inflation rate.