Question

the average price of a low - fare airline ticket rose from $270 in 1997 to $410 in 2017. calculate the relative change in price from 1997 to 2017, and compare it to the overall rate of inflation as measured by the consumer price index. low - fare airline ticket prices increased by 52 %. (round to the nearest integer as needed.) the overall rate of inflation was 53 %. (round to the nearest integer as needed.) the change in low - fare airline ticket prices was the overall rate of inflation. average annual cpi (1982 - 1984 = 100) year cpi year cpi year cpi 1982 96.5 1995 152.4 2008 215.3 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: Compare the two percentages

We have the relative change in low - fare airline ticket prices as \(52\%\) and the overall rate of inflation as \(53\%\).
Since \(52<53\).

Answer:

The change in low - fare airline ticket prices was less than the overall rate of inflation.