GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Income Deflation
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Wholesale Price Index number
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Consumer Price Index
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None of above
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Detailed explanation-1: -The consumer price index is the measure of the average change over time in the prices of consumer goods and services purchased by households. The percentage change in the consumer price index over a period of time gives the amount of inflation over that specific period.
Detailed explanation-2: -In India, inflation is primarily measured by two main indices: The Wholesale Price Index (WPI) and Consumer Price Index (CPI), also known as retail inflation. The index numbers used to measure the change in the overall price of goods before they are sold at retail prices constitute the WPI.
Detailed explanation-3: -In India, generally, two kinds of indices are used to measure inflation-Wholesale Price Index (WPI) and Consumer Price Index (CPI).