The wholesale price index number is used to find the rate of inflation.
It’s formula is as follows:
Rate of inflation = \(\frac{(Wholesale \,price\, index\, number\, of\, current\, year)-(Wholesale \,price\, index\, number
\,of \, preceding\, year)}{Wholesale\, price\, index\, number\, of \,preceding\, year } \times 100\)
