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The phrase "annual rate of" is correct and usable in written English.
It is typically used in financial contexts to describe the percentage of interest or return on an investment calculated over a year.
Example: "The annual rate of return on the investment was 5%, which exceeded our expectations."
Alternatives: "yearly rate of" or "annual percentage of".
Exact(57)
Australia's economy is growing at an annual rate of 3.1%.
Stockpiling rose at an annual rate of $15.3 billion.
Its annual rate of return has been 34percentt.
The 6% annual rate of reduction required is global.
In July, M4 grew at an annual rate of 11.8%.
The annual rate of inflation fell to 0.1%.
So that implies an annual rate of 3.6%, right?
Exports grew by an annual rate of 3%.
Consumption is falling at an annual rate of 3.9%.
Road tax has soared at an annual rate of 10.5%.
The industry had grown at an annual rate of 3.7%.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com