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What Is Inflation Rate? - Definition & Formula

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question 1 of 3

Which of the following is the best explanation of inflation?

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1. What's the term that describes the opposite of inflation?

2. What's the index used by the US government to calculate the general inflation rate?

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About This Quiz & Worksheet

This quiz and worksheet can help you assess your knowledge of characteristics of the inflation rate and how it is calculated.

Quiz & Worksheet Goals

This quiz and worksheet can help you assess your knowledge of:

  • Term used for the opposite of inflation
  • Definition of inflation
  • Index used by the US to calculate the general inflation rate
  • Formula used to calculate the rate of inflation

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about what inflation is
  • Information recall - access the knowledge you have gained regarding how the rate of inflation is calculated
  • Interpreting information - verify that you can read information regarding the general inflation rate and interpret it correctly

Additional Learning

To learn more about the inflation rate, review the lesson on What Is Inflation Rate? - Definition & Formula. This lesson covers the following objectives:

  • Determine what the inflation rate measures
  • Identify the purposes of the CPI
  • Review the formula for calculating the rate of inflation
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