Using these values, the average (arithmetic mean) annual rate of inflation over this period is

A) 14.35%. B) 2.27%. C) 4.63%. D) 2.05%. E) None of the above (A, B, C, D) is close to be correct.

Below is a list of annual US CPI values for urban consumers for the years 2015 2021. (Link to FRED: Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL))

Year CPI all urban consumers

2015 237

2016 240

2017 245

2018 251

2019 256

2020 259

2021 271