Suppose that the CPI fell from $244\mathrm{.}5$ to $242\mathrm{.}7$ over a one month period.

In this case, what would be the percentage change in the CPI on an annualized nominal basis?

The percentage change in the CPI, on an annualized nominal basis, would be

$-8\mathrm{.}485$

$\%.$ Round your answer to $3$ decimal places.