Option 1 -> Incorrect terminology - uses 'Customer' instead of 'Consumer' and wrong word order.
Option 2 -> Wrong word order - should be 'Consumer Price Index' not 'Consumer Index Pricing'.
Option 3 -> This is the correct standard economic term for measuring inflation.
Option 4 -> Uses 'Customer' instead of 'Consumer' - incorrect terminology.
Hence, Consumer Price Index -> The Consumer Price Index (CPI) is a widely used economic indicator that measures the average change in prices paid by consumers for a basket of goods and services over time. It is calculated by taking the cost of the market basket in the current year, dividing it by the cost of the same basket in the base year, and multiplying by 100 to express as a percentage. CPI is the primary tool used to track inflation and assess cost of living changes in an economy. -> correct