According to the US BLS, the CPI value grew from 186.2 in February 2004 to 258.7 in February 2020. Based on this, calculate the average annual general inflation rate over that period. ○ A. 1.75% B. 2.43% ○ C. 2.08% ○ D. 1.95%
According to the US BLS, the CPI value grew from 186.2 in February 2004 to 258.7 in February 2020. Based on this, calculate the average annual general inflation rate over that period. ○ A. 1.75% B. 2.43% ○ C. 2.08% ○ D. 1.95%
Chapter1: Making Economics Decisions
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![According to the US BLS, the CPI value grew from 186.2 in February 2004 to 258.7 in February 2020. Based on this, calculate the average annual general inflation rate over that period.
○ A. 1.75%
B. 2.43%
○ C. 2.08%
○ D. 1.95%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42c4d8e1-bec9-4789-ba6c-6f6769b3df7a%2F620f5db0-07c5-44b3-ab07-85e7c8b510d3%2Fy1fgoc_processed.png&w=3840&q=75)
Transcribed Image Text:According to the US BLS, the CPI value grew from 186.2 in February 2004 to 258.7 in February 2020. Based on this, calculate the average annual general inflation rate over that period.
○ A. 1.75%
B. 2.43%
○ C. 2.08%
○ D. 1.95%
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