Calculation of Inflation

Q. On what basis is inflation calculated in our country?

1. Change in inflation
2. Change in CPI
3. Change in price index
4. Change in WPI

Q. Which index in India is used to evaluate inflation?

1. Commodity price index
2. Comnsumer price index
3. Food price index
4. Wholesale price index

Q. Which index reveals the extra expenses incurred by an individual?

1. Consumer price index
2. Wholesale price index
3. Food price index
4. Price index

Q. Samar bought vegetables and ration for his house. He had made a budget for himself, but he saw that he exceeded it as he has spent more money as compared to the previous year. He wants to calculate the price rise to know how he can fix a new budget.

Which index should he use for the calculation of the same?

1. Price index
2. Wholesale price index
3. Consumer price index
4. Food price index