Consider the following statements regarding the Wholesale Price Index (WPI) in India: 1. The WPI compiled by the Central Statistical Organisation (CSO). 2. The WPI primarily captures price changes at the production or primary transaction stage and not at the consumption stage. 3. The WPI is compiled weekly and is based on price quotations for selected items collected through both official and non-official sources. Which of the statements given above is/are correct? |ForumIAS

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: B

Notes:

Explanation:

The Wholesale Price Index (WPI) series with base 1993-94 is compiled by the Office of Economic Adviser (OEA),
WPI reflects price changes at the producer or primary transaction stage, such as farm-gate, mine-head, or factory-gate prices, and does not capture retail margins or consumption-side inflation.
The WPI is compiled weekly and uses price quotations from both official and non-official sources, although this voluntary method has been criticized for timeliness and non-response issues.

Source: Indian economy (Dr.Ramesh Singh)