The inflation rate is defined as the a. price level in an economy. b. change in the price level from one period to the next. c. percentage change in the price level from the previous period. d. price level minus the price level from the previous period.

c. percentage change in the price level from the previous period.

Explanation:

Inflation may be defined as the significant increase in the price of commodities and goods as well as the services provided over some period of time. Inflation devalues the the currency of a particular country,

And inflation rate is defined is the percentage at which the value of the money or currency is degraded or decreased over some period of time. It means the value of money will be less in the in the future than in the present.

Thus the answer is c. percentage change in the price level from the previous period.

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