Consider the following statements with respect to Consumer Price Index and Wholesale Price Inde...........

Indian Economic System(PCS) Inflation

Consider the following statements with respect to Consumer Price Index and Wholesale Price Index in India :

1. The WPI is calculated for only goods and CPI is calculated for both goods and services.

2. The WPI is published by the Office of the Economic Advisor in the Ministry of Commerce and Industry while the CPI is published by the Central Statistical Office.

3. The WPI is published on a weekly basis for primary articles and fuel and power and is published monthly for the rest of the items, whereas the CPI is released on a monthly basis.

4. The WPI measures inflation in the initial stages of the supply chain whereas the CPI measures inflation in the later stages of the supply chain.

Which among the above given statements are correct?

This questions was previously asked in

PCS Previous year General Studies paper 2020

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Only 1, 2 and 3

Only 1, 3 and 4

Only 1, 2 and 4

All of the above

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Explanation:

Let's go through each statement:

- Statement 1: WPI covers only goods, while CPI covers both goods and services. (This is correct.)

- Statement 2: WPI is published by Office of Economic Advisor (Ministry of Commerce & Industry); CPI by Central Statistical Office (now called NSO, under Ministry of Statistics & Programme Implementation). (Correct.)

- Statement 3: WPI used to be published weekly (for primary articles & fuel), but since 2012, WPI is released monthly for all items. CPI is released monthly. (This is outdated, so NOT correct.)

- Statement 4: WPI captures price changes at the wholesale (early supply chain) level, CPI captures them at retail (final consumer, later stage). (Correct.)

Correct Option:

- Only statements 1, 2, and 4 are correct.

- So, Option 3 is right.

Option:3, Only 1, 2 and 4