Normal 0 MicrosoftInternetExplorer4 With reference of India consider the following statements 1 WPI...........

Economic Affairs Inflation

With reference of India, consider the following statements

1. WPI in India is available on a monthly basis only.

2. As compared to the Consumer Price Index for Industrial Workers (CPI_IW), the WPI gives less weightage to food articles.

Which of the statements given above is/are correct?

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

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Explanation:

Both the statements are correct.
Since 2009 WPI has been made monthly.
The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods. Some countries (like the Philippines) use WPI changes as a central measure of inflation.But now India has adopted new CPI to measure inflation.

Food Products has given 9.97% weight-age i case of WPI while incase of CPI it is food and beverages 54.18%.