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The consumer price index is reported monthly by the u.s. bureau of labor statistics. It reports...

The consumer price index is reported monthly by the u.s. bureau of labor statistics. It reports the change in prices for a market basket of goods from one period to another. The index for 2003 was 237.1. By 2014, it increased to 278.100.

what was the geometric mean annual increase for the period? (Round your answer to 2 decimal places.)

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Answer #1

This means that for the past 11 years since 2014, the consumer price index increased by an average of 1.46% every year.

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