Published on: September 15, 2021
WHOLESALE PRICE-BASED INFLATION
What is in news : The wholesale price-based inflation (WPI) increased marginally to 11.39 per cent in August 2021 due to higher prices of manufactured goods, even though the prices of food articles softened.
MAHITI FOR PRELIMS
Wholesale Price Index
- It measures the changes in the prices of goods sold and traded in bulk by wholesale businesses to other businesses.
- Published by the Office of Economic Adviser, Ministry of Commerce and Industry.
- It is the most widely used inflation indicator in India.
- The major criticism for this index is that the general public does not buy products at wholesale prices.
- The base year of All-India WPI has been revised from 2004-05 to 2011-12 in 2017.