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Data period CPI Dec-2019 116.2 Mar-2020 116.6 Jun-2020 114.4 Sep-2020 116.2 Dec-2020 117.2 Mar-2021 117.9 Jun-2021 118.8 Sep-2021 119.7 Dec-2021 121.3 Mar-2022 123.9 The table

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Data period CPI Dec-2019 116.2 Mar-2020 116.6 Jun-2020 114.4 Sep-2020 116.2 Dec-2020 117.2 Mar-2021 117.9 Jun-2021 118.8 Sep-2021 119.7 Dec-2021 121.3 Mar-2022 123.9 The table above illustrates the Australian CPI from the last quarter of 2019 until the first quarter of 2022. Martha claims the non-annualised inflation rate in the last quarter of 2021 (4Q2021) was 0.60%, whereas Luke claims it was 4.10%. Assume both used an inflation rate of: CPht - CPit-i vi > 1 CPIt-j Choose the best alternative: Select one: O a. Martha is correct O b. Luke is correct O c. Neither Martha nor Luke is correct, no matter which period is considered. O d. Both Martha and Luke are correct, no matter which period is considered. O e. All the other alternatives are incorrect

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