Option 1 -> Includes Preceding Year and Succeeding Year which are not required for CPI calculation.
Option 2 -> Correctly identifies Current Year and Base Year which are essential for CPI measurement.
Option 3 -> Includes Preceding Year which is not necessary for CPI calculation.
Option 4 -> Excludes Current Year and includes Preceding and Succeeding Years which is incorrect.
Hence, Option 2: (A) and (C) only -> Consumer Price Index (CPI) is calculated by comparing the cost of a fixed basket of goods and services in the current year with the cost of the same basket in a base year. The formula is: CPI = (Cost in Current Year / Cost in Base Year) × 100. Only the Current Year (for measuring present prices) and Base Year (as reference point) are required. Preceding or Succeeding years are not part of the standard CPI calculation methodology. -> correct