The ________ is widely used to measure the rate of inflation.

IIP

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CPI

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WPI

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none of the above

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Solution

The correct option is D WPI
The WPI stands for the Wholesale Price Index, it is a widely used measure of inflation. The wholesale price index number indicates the change in the general price level. It measures the relative changes in the price of goods in the wholesale markets. Unlike the CPI, it does not have any reference to the consumer category.

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