In India, inflation is measured by the ________.

Wholesale Price Index

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Consumer Price Index for urban workers

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Consumer Price Index for agricultural workers

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National income deflation

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Solution

The correct option is A Wholesale Price Index
1:In India, Consumer Price Index (CPI) and Wholesale Price Index (WPI) are two major indices for measuring inflation. In United States, CPI and PPI (Producer Price Index) are two major indices.
2:The Wholesale Price Index (WPI) was main index for measurement of inflation in India till April 2014 when RBI adopted new Consumer Price Index (CPI) (combined) as the key measure of inflation.

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Similar questions

Q. Q21. Consumer Price Index (CPI) Inflation in India is measured on a

A consumer price index measures changes in

(i) retail prices

(ii) wholesale prices

(iii) producers prices

Q34) In the past few months, the two main inflation indicators — the Wholesale Price Index (WPI) and the Consumer Price Index (CPI) — are moving in widely divergent directions. Consider the following statements:

1) Headline inflation does not include food and fuel prices while Core inflation includes all-item index

2) CPI is measured on base year 2012

3) Reserve Bank of India has now adopted WPI as new measure of Inflation

Which of the above statement(s) is/ are incorrect?

(I) The change in any price is reflected in an index number.

(II) The wholesale price index can be used to measure the monetary and real value of national income and expenditure.

(A) If mean of a service is 30 and mode is 25. Find median.

(B) The wholesale price index in India is continuously rising over the year 2012 and 2013.

Which value is compromised with the rising wholesale price index ?

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