Price inflation

This year the average wage grew by 4.5%. Prices rose by 2%. How much did the real wage increase in the given year?

Correct result:

p =  2.41 %

Solution:

q1=1+4.5/100=209200=1.045 q2=1−2/100=4950=0.98 q=q1⋅ q2=1.045⋅ 0.98=1.0241  p=100⋅ (q−1)=100⋅ (1.0241−1)=241100=241100%=2.41%

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