The accompanying table contains two price indexes for the years 2014, 2015, and 2016: the GDP deflator

Question:

The accompanying table contains two price indexes for the years 2014, 2015, and 2016: the GDP deflator and the CPI. For each price index, calculate the inflation rate from 2014 to 2015 and from 2015 to 2016. (Note: The GDP deflator has a base year of 2007 and the CPI has a base year of 2002.)

GDP deflator 113.1 Year CPI 2014 125.2 126.6 112.2 2015 126.6 112.9 128.4 2016