The data in Figure suggest an unemployment coefficient of approximately -1.0 in the Phillips curve; that is, the Phillips curve is p
![](https://test.transtutors.com/qimg/8b9b0b6b-228b-47a5-83b8-fba18807d962.png)
Assume the natural rate, U*, is 5 percent. Actual unemployment is 5 percent in 2020, 7 percent in 2021, 6 percent in 2022, and 5 percent in 2023. Inflation is 5 percent in 2020. What is inflation in 2023? (Assume there are no supply shocks.)
![2290_Figure 8.jpg](https://secure.tutorsglobe.com/CMSImages/2290_Figure 8.jpg)