i need full answer for question 5 please .

DEC5024 - MACROECONOMICS PROJECT (Case Study) (10%) Inflation in Latin America Inflation rates have varied in Latin America in recent years. In May 2013, inflation in Venezuela reached 54%, one of the highest in the world. Prices were driven up largely by higher food prices. Venezuela's population experienced food shortages, lower real wages and a reduction in the value of their savings. The government imposed price controls on a range of products and the president stated these would reverse the rise in prices and might even result in negative inflation. Higher food prices, along with a falling foreign exchange rate, also caused Brazil's inflation rate to rise in 2013. In April of that year the inflation rate rose to 6.6%, with more than two-thirds of the items in the country's consumer price index rising in price. % change in consumer price index Year Brazil Mexico Venezuela 2007 3.5 3.9 18.7 2008 4.7 3.9 28.2 2009 47 5.5 30.2 2010 5.3 3.9 32.0 2011 5.0 3.9 32.0 2012 5.3 3.7 25.2 2013 6.3 3.7 36.0 Table 1.0 Inflation rates in Brazil, Mexico and Venezuela 2007 - 2013 1. Explain in what sense inflation may reduce the value of people's savings. (10 marks) 2. Why might most of the items in a country's consumer price index fall but the consumer price index still increase? (10 marks) 3. Explain why the change in Brazil's foreign exchange rate may have caused cost-push inflation. (10 marks) 4. Using Table 1.0, explain what happened to prices in Brazil between: a) 2008 and 2009 (5 marks) b) 2010 and 2011 (5 marks) 5. Compare the inflation rates experienced in Mexico and Venezuela over the period shown. (10 marks)