Consider the following statements:
1. The Consumer Price Index (CPI) includes the prices of both goods and services, making it a better measure of inflation affecting consumers.
2. The Wholesale Price Index (WPI) includes the price of services, making it a comprehensive measure of inflation.
3. The GDP Deflator reflects price changes in all domestically produced goods and services, including investment goods and government services.
Which of the above statements are correct?
1
1 and 2
2
1 and 3
3
All three
4
None