Calculate the annual inflation rate between 30th June 1953 when the consumer price index (CPI) was 6.4 and 30th June 1960 when the CPI was 7.6. Note that you should find the annual CPI inflation rate between these dates.

Select one:

a.

-92.4% pa

b.

2.1714% pa

c.

2.4854% pa

d.

3.4968% pa

e.

14% pa