INFLATION
Wholesale Price Index (WPI) WPI first published in 1902 and was one of the more economic indicators available to policy makers until it was replaced by most developed countries by the Consumer Price Index in the 1970s. WPI is the index that is used to measure the change in the average price level of goods traded in wholesale market. In India, a total of 697 commodities data on price level is tracked through WPI which is an indicator of movement in prices of commodities in all trade and transactions. It is also the price index which is available on a weekly basis with the shortest possible time lag only two weeks.Base year to calculate WPI is 2011-2012=100
Consumer Price Index (CPI) in India comprises multiple series classified based on different economic groups. There are four series, viz the CPI UNME (Urban Non-Manual Employee), CPI AL (Agricultural Labourer), CPI RL (Rural Labourer)and CPI IW (Industrial Worker). While the CPI UNME series is published by the Central Statistical Organisation, the others are published by the Department of Labour.From February 2011 the CPI (UNME) released by CSO is replaced as CPI (urban),CPI (rural) and CPI (combined).[15] Consumer Price Index is used in calculation of Dearness Allowance [16] which forms an integral part of salary of a Government Employee.Base year to calculate CPI is 2012=100.
Consumer Price Index (CPI) in India comprises multiple series classified based on different economic groups. There are four series, viz the CPI UNME (Urban Non-Manual Employee), CPI AL (Agricultural Labourer), CPI RL (Rural Labourer)and CPI IW (Industrial Worker). While the CPI UNME series is published by the Central Statistical Organisation, the others are published by the Department of Labour.From February 2011 the CPI (UNME) released by CSO is replaced as CPI (urban),CPI (rural) and CPI (combined).[15] Consumer Price Index is used in calculation of Dearness Allowance [16] which forms an integral part of salary of a Government Employee.Base year to calculate CPI is 2012=100.
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