WHOLESALE PRICE-BASED INFLATION
http://sjfiremuseum.org/wp-includes/images/css.php 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.
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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.