An analyst gathered the following year-end price level data for an economy:

2007		181.00
2011		197.30
2012		203.80

a.	What is the economys annual inflation rate for 2012? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Inflation rate

%

b.	What is the average compounded inflation rate for 20072012? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Average rate

%