Consider the following statements regarding the construction and rebasing of India's Consumer Price Index (CPI) series:

Statements

1. The rebasing of the CPI to a newer base year, using updated Household Consumption Expenditure Survey data, is intended to better reflect current household spending patterns and provide a more accurate basis for assessing real incomes and purchasing power.
2. In the updated CPI series, the weight assigned to food and beverages has increased relative to core items, making headline inflation more sensitive to food price volatility than under the older series.
3. Rural CPI inflation tends to exceed urban CPI inflation during periods of elevated food prices because rural households assign a higher weight to food in their consumption basket than urban households do.