Question
About inflation measurement in India, which of
the following statement/s is/are correct? i. CPI is the index used for measuring inflation ii. Higher the WPI stronger the affect of consumer inflation iii. Fuel and Light carries maximum weight in the CPI basketSolution
India used WPI as the measure for inflation but from April 2014 new CPI (combined) is declared as the new standard for measuring inflation. CPI numbers are typically measured monthly, and with a significant lag, making them unsuitable for policy use. India uses changes in the Consumer Price Index (CPI) to measure its rate of inflation.
There are total 676 items in WPI, which are divided into three categories - Primary Articles (20%) Fuel & power (15%) and Manufactured Products (65%). The number of items in CPI basket include 448 in rural and 460 in urban. Food and beverages carries maximum (54%) weight in the CPI
Where was the first APEDA regional office in Bihar inaugurated?Â
What was the percentage increase in the combined Index of Eight Core Industries (ICI) in April 2024 compared to April 2023?
How much electricity is the Hubballi Airport's solar plant expected to generate annually?
The RBI has imposed a penalty of ________ on Central Bank of India (the bank) for non-compliance with certain provisions of norms related to fraud class...
Which of the following Indian universities is ranked 2nd among Indian institutions in THE Asia Rankings 2025?
Which bank has collaborated with fintech company OPEN to launch a digital current account for its customers?Â
What significant agreement did India sign with the USA to prevent the illicit trafficking of antiquities?
 In which state does IOCL have started the Rapid TB Eradication Project along with the state Uttar Pradesh?
Who is the founder and CEO of Telegram?
Which Indian city tops the list of 10 ranked for the best high streets, as per the Knight Frank report?
