What is the current WPI of India?

What is the current WPI of India?

The rate of inflation based on WPI Food Index increased from 3.06% in October, 2021 to 6.70% in November, 2021. September, 2021 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011- 12=100) stood at 137.4 and 11.80% respectively.

WHO releases WPI data in India?

the Office of Economic Adviser
WPI data is published by the Office of Economic Adviser, Ministry of Commerce and Industry, while CPI data is published by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI). The base year for WPI is 2011-12 while the base year for CPI is 2012.

Does India use CPI or WPI?

India uses changes in the CPI to measure its rate of inflation. The WPI measures the price of a representative basket of wholesale goods. In India, this basket is composed of three groups: Primary Articles (22.62% of total weight), Fuel and Power (13.15%) and Manufactured Products (64.23%).

Why is CPI better than WPI?

Mainly WPI focus on prices of goods traded between business houses whereas CPI focuses on prices of goods purchased by consumers. As CPI provides more clarity about inflation and its economy on the overall economy hence CPI is widely used for calculating inflation as compared to WPI. So, monetary policy.

What is WPI series?

(The index basket of the present 2011-12 series has a total of 697 items including 117 items for Primary Articles, 16 items for Fuel & Power and 564 items for Manufactured Products.) …

What is the current CPI base year?

1982- 84
Currently, the reference base for most CPI indexes is 1982- 84=100 but some indexes have other references bases. The reference base years refer to the period in which the index is set to 100.0. In addition, expenditure weights are updated every two years to keep the CPI current with changing consumer preferences.

WHO issues WPI data?

the Ministry of Commerce and Industry
The WPI is published by the Economic Adviser in the Ministry of Commerce and Industry.

Why India chose CPI over WPI?

When other developing economies were using the CPI as a measure of inflation, India chose to use the WPI due to its national coverage and timely release. WPI numbers are updated on a weekly basis whereas CPI numbers are updated on a monthly basis.

Does RBI use WPI?

There are two measures of inflation in India, Wholesale Price Index (WPI) and the Consumer Price Index (CPI). CPI is tracked by RBI and it measures the changes over time in general level of retail prices of selected goods and services that households purchase for consumption.

When will the new series of wholesale price index (WPI) be effective?

The new series of Wholesale Price Index (WPI) with base 2011-12 is effective from April 2017. Data for WPI (2011-12) has however been provided from April 2012 to March 2017 for the purpose of research and analysis only. Linking factor given for conversion of WPI (2011-12) indices to WPI (2004-05) series should be used from April 2017 onwards.

What is the difference between WPI and WPI?

WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator. WPI (2011-12) reckons only basic prices and does not include taxes, rebate/trade discounts, transport and other charges.

What is the linklinking factor given for conversion of WPI (2011-12) indices?

Linking factor given for conversion of WPI (2011-12) indices to WPI (2004-05) series should be used from April 2017 onwards. WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator. WPI (2011-12) reckons only basic prices and does not include taxes, rebate/trade discounts, transport and other charges.

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