2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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0.32%
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0.49%
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0.58%
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0.64%
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Detailed explanation-1: -The rate of inflation based on WPI Food Index decreased from 6.48% in October, 2022 to 2.17% in November, 2022.
Detailed explanation-2: -(Current Price / Base Period Price) × 100 is the formula used to calculate the Wholesale Price Index (WPI).
Detailed explanation-3: -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.
Detailed explanation-4: -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.