The consumer price index (cpi) is 110, 117, 128 in 2018, 2019 and 2020 respectively. Calculate the inflation rate in 2019 and 2020.

Inflation rate in 2019 = (CPI in 2019 - CPI in 2018) / CPI in 2018 * 100%

= (117 - 110) / 110 * 100%

= 6.36%

Inflation rate in 2020 = (CPI in 2020 - CPI in 2019) / CPI in 2019 * 100%

= (128 - 117) / 117 * 100%

= 9.40%