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Consider the following statements with respect to Consumer Price Index and Wholesale Price Index in India:

1. The WPI is calculated for only goods and CPI is calculated for both goods and services. 

2. The WPI is published by the Office of the Economic Advisor in the Ministry of Commerce and Industry while the CPI is published by the Central Statistical Office.

3. The WPI is published on a weekly basis for primary articles and fuel and power and is published monthly for the rest of the items, whereas the CPI is released on a monthly basis.

4. The WPI measures inflation in the initial stages of the supply chain whereas the CPI measure inflation in the later stages of the supply chain.

Which among the above given statements are correct?


1. Only 1, 2 and 3
2. Only 1, 3 and 4
3. Only 1,2 and 4
4. All of the above

1 Answer

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Correct Answer - Option 4 : All of the above

The correct answer is All of the above.

  • Wholesale Price Index (WPI): 
    • The Wholesale Price Index represents the price of a basket of wholesale goods. WPI focuses on the price of goods that are traded between corporations. It does not concentrate on goods purchased by the consumers.
  • Consumer Price Index (CPI):
    • The CPI is a measure that assesses the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, purchased by households.
Context WPI CPI
Commodities Goods only Goods and Services both
Publishing office Office of Economic Advisor (Ministry of Commerce & Industry) Central Statistics Office (Ministry of Statistics and Programme Implementation) & Labour Bureau
Base Year 2011-12 2012
Basis Weekly and Monthly Monthly
Inflation Measurement  First stage of a transaction Final stage of a transaction
Prices paid by Manufacturers and wholesalers Consumers

 

  • Hence, statement 1, 2, 3 and 4 are correct.

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