………….is presently used in Nigeria to measure inflation
- GNP implicit price deflator
-
Consumer price index
- Wholesale price index
- Real Gross Domestic Product
The correct answer is: B
Explanation
In Nigeria, the Consumer Price Index (CPI) is used to measure inflation. The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is the most widely used measure of inflation and is sometimes viewed as an indicator of the effectiveness of government economic policy.