BANKING AFFAIRS

Detailed explanation-1: -Wholesale Price Index (WPI) measures the average change in the prices of commodities for bulk sale at the level of early stage of transactions. The index basket of the WPI covers commodities falling under the three major groups namely Primary Articles, Fuel and Power and Manufactured products.

Detailed explanation-2: -Definition: Wholesale Price Index (WPI) represents the price of goods at a wholesale stage i.e. goods that are sold in bulk and traded between organizations instead of consumers. WPI is used as a measure of inflation in some economies. Description: WPI is used as an important measure of inflation in India.

Detailed explanation-3: -The Wholesale Price Index (WPI) number is a measure of average wholesale price movement for the economy. 2.2 Changes in Definition of Wholesale Price Index Wholesale price is generally defined to capture all bulk transactions of goods carried out in the domestic market.

Detailed explanation-4: -Wholesale Price Index measures the relative changes in the prices of the commodities traded in the wholesale markets. It assesses situations of overall demand and supply in the market. It focuses on the rate of inflation in the economy.

Detailed explanation-5: -A wholesale price index (WPI) measures overall change in producer prices over time. It is a measure of inflation based on the prices of goods before they reach consumers. In the U.S. the WPI was renamed the Producer Price Index (PPI) in 1978.