Question

Suppose three years ago a nation's inflation rate was 8%, two years ago it was 5%, and last year it was 2%. This nation is undergoing

Answer 1

The nation is undergoing a decrease in the inflation rate.

Step-by-step explanation:

The nation is undergoing a decrease in the inflation rate. Inflation rate refers to the percentage increase in the general price level of goods and services over time. A decrease in inflation rate indicates that prices are rising at a slower pace compared to previous years. In this case, the nation's inflation rate has been progressively decreasing from 8% three years ago, to 5% two years ago, and to 2% last year.