Use the Following Consumer Price Index Data to Answer the Questions

Short Answer

Use the following consumer price index data to answer the questions.
$$\begin{array} { | c | c | } \hline \text { YEAR } & \begin{array} { c } \text { CONSUMER } \\\text { PRICE INDEX }\end{array} \\\hline 1997 & 97.8 \\\hline 1998 & 99.2 \\\hline 1999 & 100 \\\hline 2000 & 102.5 \\\hline 2001 & 105 \\\hline 2002 & 108.4 \\\hline\end{array}$$ ​
(a) What was the inflation rate in 2001?
(b) What was the inflation rate in 1998?
(c) Which year is the base year?
(d) Out of the years shown in the table, which year had the highest rate of inflation?
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