Title : WHOLESALE PRICE INDEX

Date : Dec 17, 2021

Description :

GS III

 

Topic à Indian Economy

 

 

• About the WPI:

 

• It tracks variations in the prices of commodities sold and traded in bulk by wholesalers to other merchants.
• The Ministry of Commerce and Industry's Office of Economic Adviser publishes this report.
• In India, it is the most extensively used inflation indicator.
• The general population does not buy things at wholesale prices, which is a major critique of this index.
• In 2017, the base year of the All-India WPI was changed from 2004-05 to 2011-12.

 

• Difference between CPI & WPI:

 

• The Consumer Price Index (CPI) and the Wholesale Price Index (WPI) are two different types of inflation.
• WPI measures inflation at the production level, while CPI measures price fluctuations at the consumer level.
• WPI does not account for changes in service pricing, but CPI does.

 

• Source à The Hindu à 15/12/21 à Page Number 1

 

Tags : inflation, The Ministry of Commerce and Industry