Concept:Inflation is the sustained rise in the general price level of goods and services in an economy over time.
Explanation:Nigeria officially measures inflation using the Consumer Price Index (CPI).
The CPI tracks the average change in prices paid by households for a fixed basket of consumer goods and services.
It is calculated by comparing the current cost of this basket with the cost of the same basket in a base period.
Because CPI directly reflects changes in the cost of living for ordinary consumers, it is the most suitable indicator for inflation.
Other measures, like the GDP deflator or Wholesale Price Index, focus on different price sets and are not the primary official measure used in Nigeria.
Therefore, the Consumer Price Index is the correct choice.
Answer:B. Consumer price index