Published by the Office of Economic Adviser, Ministry of Commerce and Industry. It is the most widely used inflation indicator in India. Major criticism for this index is that the general public does not buy products at wholesale price. The base year of All-India WPI has been revised from 2004-05 to 2011-12 in 2017.
WHO releases the Consumer Price Index?
Labour Bureau has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centers in the country. The index is compiled for 88 centers and All-India and is released on the last working day of succeeding month.
WHO releases the WPI?
the Economic Adviser
The WPI is published by the Economic Adviser in the Ministry of Commerce and Industry.
WHO released WPI data in India?
the Ministry of Commerce & Industry
India Wholesale Price Index (WPI) Data: The wholesale inflation across the country rose to 13.11 per cent in February, data released by the Ministry of Commerce & Industry showed.
Who calculate Consumer Price Index in India?
CPI, therefore, is calculated by referring to a base year which is a benchmark. The base year is monitored by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (Mospi), and changes from time to time.
WHO calculates inflation India?
the Ministry of Statistics and Programme Implementation
Two different government agencies, namely the Ministry of Statistics and Programme Implementation (MOSPI) and the Ministry of Labour and Employment, publish a number of consumer price indices (Table 2). Each index has its own set of weights and the base period used varies across measures.
What is inflation by Drishti IAS?
Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc. Inflation measures the average price change in a basket of commodities and services over time.
Which inflation index is released by NSO?
the Consumer Price Index (CPI)-
The retail inflation rate in India – measured by the Consumer Price Index (CPI)- came in at 6.07% in February 2022, as per data released by the National Statistical Office (NSO) on Friday.
Who published wholesale price index?
The Office of the Economic Adviser
The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing index numbers of wholesale price in India (Base Year: 2011-12) for the month of April, 2022 (Provisional) and for the month of February, 2022 (Final) in this press release.
Who compiles and publishes the Consumer Price Index in India?
While the Ministry of Statistics and Program Implementation collects CPI (UNME) data and compiles it, the remaining three are collected by the Labour Bureau in the Ministry of Labour.
What is the current CPI of India?
| Actual | Previous | |
|---|---|---|
| 170.10 | 167.70 | 2012=100, NSA |
Does India use PPI?
The Producer Price Index hasn’t been in use in India yet, but Niti Aayog has created a roadmap to introduce it soon. The Wholesale Price Index is the index used to measure the changes in the average price level of goods traded in wholesale market.
Does India use CPI or WPI?
India uses changes in the CPI to measure its rate of inflation. The WPI measures the price of a representative basket of wholesale goods.
How is CPI constructed in India?
Currently, CPI in India is calculated by taking a basket of 299 commodities as compared to 676 commodities in WPI. Basically, CPI is calculated by considering the retail price change of goods and services and by taking the average weighted value of each item in the basket.
How many items are in a WPI basket in India?
In the revised WPI basket, the number of items has been increased from 676 to 697. Efforts have been made to Page 5 5 enhance the number of quotations from 5482 to 8331. The increase in number of quotations has been done across the major groups to ensure comprehensive coverage and representativeness.
When did the CPI formula change?
In 1978, the index was revised to reflect the spending patterns based upon the surveys of consumer expenditures conducted in 1972–1974. A new and expanded 85-area sample was selected based on the 1970 Census of Population.
Who decides inflation rate in India UPSC?
the Reserve Bank
Who decides inflation rate in India? The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years.
Who has given the measurement of inflation CPI after 2014?
Patel Committee report have been implemented, including adoption of the new CPI (combined) as the key measure of inflation,” said Dr. Rajan, while addressing a press conference here to announce the first bi-monthly monetary policy for 2014-15.
How is WPI different from CPI?
WPI is Wholesale Price Index while CPI is Consumer Price Index. Here are more details about them. WPI measures the average change in prices of goods at the wholesale level while CPI calculates the average change in prices of goods and services at retail level.
How often is CPI released Upsc?
This index is released on the 20th of the succeeding month.
WHO calculates WPI India UPSC?
The Wholesale Price Index is the index used to calculate wholesale inflation (WPI). This rate of inflation is commonly referred to as headline inflation. The Office of Economic Advisor, Ministry of Commerce and Industry publishes the WPI. The base year is aligned with CPI as 2012=100.
