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Apaar Bhatnagar

· started a discussion

· 1 Months ago

the answer given is wrong (Question: 190745.0 )

We have been using CPI as the index for inflation as it covers the price which end user have to bear.
WPI is a figure which represents the price at which a commodity enters the market and not the price which end user have to pay for it. This is the main reason why inflation calculation has been shifted to CPI.

Question:

Inflation in India is measured on which of the following indexes/ indicators?

Options:
A)

Cost of Living Index (COLI)

B)

Consumer Price Index (CPI)

C)

Gross Domestic Product

D)

Wholesale Price Index (WPI)

E)

None of these

Solution:

The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods. Some countries 

use WPI changes as a central measure of inflation.

Knowledge Expert

· commented

· 1 Months ago

Dear Student,

Wholesale Price Index (WPI) represents the price of goods at a wholesale stage i.e. goods that are sold in bulk and traded between organizations instead of consumers. WPI is used as an important measure of inflation in India.

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