Inflation occured over this time period, Macroeconomics

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In January of 1997, the U.S. Consumer Price Index (CPI) stood at 159.1. By January of 2008, the level had risen to 211.1. What was the average annual rate of inflation over this time period as measured by the CPI?

A) 3.78%

B) 3.31%

C) 2.97%

D) 2.60%

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