I've been unable to find a concrete answer to this question so I assume I am overlooking something incredibly simple.
In order to determine the real interest rate, I am required to use the nominal and inflation rates (using the nominal divided by inflation equation). Whilst the nominal rate is given (7.6% compounded monthly), the inflation rate is only given in terms of bimonthly cpi growth rates (1.32%, 1.75%, 1.64% and so on).
Presuming the equation requires the inflation rate to be annual, how would I determine this? Simply adding all six growth rates together or using the first and last given growth rates?
Any direction to how to approach this would be much appreciated. Thank you! Douglas