What is the annual rate of inflation over three year period

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The GDP deflator in Econoland is 200 on January 1, 2005. The deflator rises to 242 by January 1, 2007, and to 266.2 by January 1, 2008.

What is the annual rate of inflation over the three year period from January 1, 2005, to January 1,2008?

Is it as simple as dividing 66.2 by 3 years to get 22% inflation?

Reference no: EM13234053

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