Most Studies in the 1990s Concluded That the Consumer Price

Most studies in the 1990s concluded that the consumer price index overstated inflation by about

A) 3 percentage points, and that number of percentage points likely still applies now.
B) 3 percentage points, but improvements in recent years to the CPI probably have reduced the overstatement of inflation to something less than 3 percentage points.
C) 1 percentage point, and that number of percentage points likely still applies now.
D) 1 percentage point, but improvements in recent years to the CPI probably have reduced the overstatement of inflation to something less than 1 percentage point.