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1. Problem A-05-4: The CPI-U (U.S. city average, a tems) has the following annual averages Year 2002 2003 2004 Index 179.9 184.0 188.9 2005 2006 195.3 201.6 a. For each year from 2003 to 2006, determine the annual inflation rate in percent to two decimal places. b. Since inflation, like interest, is compounded from period to period (e.g., from year to year), estimate the overall annual inflation rate per year from 2002 to 2006. Hint: Do not simply average the rates of Part a. [Solution: (a) 2.28% for 2003 is first of four answer values, (b) 2.89%]