Which statement from a newspaper article refers to the consumer price index

(CPI) ?

A. Unemployment has decreased 5 percent since the election

B. The average cost of groceries has increased 10 percent since last year

C. Canada has increased its average household productivity over last year

D. The United States has dropped one rank In national productivity

'The average cost of groceries has increased 10 percent since last year' is the statement from the newspaper article which refers to the consumer price index.

Option: (B)

Explanation:

CPI consumer price index is a measure which examines the 'weighted average of prices' of a basket containing 'consumer goods and services' like transportation, medical care and food. It is calculated by considering change of price for each object or item in the 'predetermined basket' of goods followed by averaging them. Always, it is reported and calculated by the 'bureau of economic analysis and statistics' of a country on annual basis and also monthly basis. It is the mostly used statistics to identify deflation or periods of inflation.