1) Over the last year £/$ exchange rate decreased from 1.2 to 1.1£/$. During the same period USinflation was 12%. Estimate UK inflation during this period by using Relative Purchasing PowerParity it...

1) Over the last year £/$ exchange rate decreased from 1.2 to 1.1£/$. During the same period USinflation was 12%. Estimate UK inflation during this period by using Relative Purchasing PowerParity it its exact form. Please round your answer to 1/10,000 (i.e., report your answer up to 4decimal points