Consider the following statements regarding inflation:
Statement (A): Head-line inflation refers to the rate of change in the Consumer Price Index Number, a measure of the average price of a standard basket of goods and services consumed by a typical family.
Statement (B): Core inflation measures the change in average consumer prices after excluding from the Consumer Price Index certain items of volatile prices such as food and fuel.
Of these statements,
1
Neither (A) nor (B) is correct.
2
Both (A) and (B) are correct
3
Only (B) is correct.
4
Only (A) is correct.