Correct Answer - Option 4 : All of the above
The correct answer is All of the above.
- Prices of which of the following commodities are considered while calculating the Wholesale Price Index (WPI)
- Primary Goods
- Fuel and Power(Oil)
- Manufactured Goods
- Manufactured goods have maximum weightage.
Wholesale price index (WPI)
- WPI is an index that measures and tracks the changes in the price of goods in the stages before the retail level.
- The WPI is published by the Economic Adviser of the Ministry of Commerce and Industry.
Consumer price index (CPI)
- Consumer Price Index (CPI) tracks the prices of goods and services purchased by consumers.
- The CPI is published by the Central Statistical Organisation of the Ministry of Statistics and Programme Implementation
- Both WPI and CPI can be used for calculating inflation in the country.
Currently, India uses CPI for calculating inflation.