Pre-cum-Mains GS Foundation Program for UPSC 2026 | Starting from 5th Dec. 2024 Click Here for more information
News: Inflation in India’s wholesale prices hiked up to 1.84% in September from 1.31% in August, with food prices surging to a two-year high of 9.5% from August’s 10- month low of 3.3%.
1. Wholesale Price Index (WPI): It is an economic indicator that captures the changes in the prices of goods at the wholesale level, before goods reach the retail market.
2. Three major groups of WPI include: A) Primary Articles (Weight 22.62%) B) Fuel & Power (Weight 13.15%) C) Manufactured Products (Weight 64.23%)
3. WPI uses 2011-12 as base year.
4. It is released by Office of Economic Adviser, Dept. of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
5. A major limitation of WPI is that it does not consider the prices of the services.
6. Other indices used to measure inflation include Consumer Price Index and GDP Deflator.
Discover more from Free UPSC IAS Preparation For Aspirants
Subscribe to get the latest posts sent to your email.
