Question

the average price of a low - fare airline ticket rose from $250 in 1998 to $440 in 2015. calculate the relative change in price from 1998 to 2015, and compare it to the overall rate of inflation as measured by the consumer price index

low - fare airline ticket prices increased by 76 %. (round to the nearest integer as needed)

the overall rate of inflation was
% (round to the nearest integer as needed)

average annual cpi (1982 - 1984 = 100)

year	cpi	year	cpi	year	cpi
1983	99.6	1996	156.9	2009	214.5
1984	103.9	1997	160.5	2010	218.1
1985	107.6	1998	163.0	2011	224.9
1986	109.6	1999	166.6	2012	229.6
1987	113.6	2000	172.2	2013	233.0
1988	118.3	2001	177.1	2014	236.7
1989	124.0	2002	179.9	2015	237.0
1990	130.7	2003	184.0	2016	240.0
1991	136.2	2004	188.9	2017	245.1
1992	140.3	2005	195.3	2018	251.1
1993	144.5	2006	201.6	2019	255.7
1994	148.2	2007	207.3	2020	258.8
				2021	271.0

Explanation:

Step1: Identify CPI values

From the table, CPI in 1998 is 163.0 and in 2015 is 237.0.

Step2: Calculate relative change

The formula for relative change (inflation rate) is $\frac{\text{CPI}_{2015} - \text{CPI}_{1998}}{\text{CPI}_{1998}} \times 100$.
Substitute values: $\frac{237.0 - 163.0}{163.0} \times 100 = \frac{74.0}{163.0} \times 100 \approx 45.4$.
Round to nearest integer: 45.

Answer:

45