1 year ago $1 would buy 6.5 pesos. Today $1 buys 7.5 pesos. If the US
1 year ago $1 would buy 6.5 pesos. Today $1 buys 7.5 pesos. If the US had an inflation rate of 3%, calculate Mexico’s inflation rate.
A) 3.1%
B) 18.38%
C) 4.2%
D) 7.8%
ANSWER
B
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