What is WPI index?
A wholesale price index (WPI) is an index that measures and tracks the changes in the price of goods in the stages before the retail level. This refers to goods that are sold in bulk and traded between entities or businesses (instead of between consumers).
What is index number PDF?
INDEX NUMBER expresses the relative change in price, quantity, or value compared to a base period. An index number is used to measure changes in prices paid for raw materials; numbers of employees and customers, annual income and profits, etc.
What is India’s current WPI?
India’s Wholesale Price Index in July 2021 eases to 11.16 per cent YoY as it finally falls below 12 per cent after seeing a record high in May. The high rate of inflation is because of the low base effect and soaring prices of crude oil and manufactured goods.
WHO releases WPI?
the Ministry of Commerce and Industry
The WPI is published by the Economic Adviser in the Ministry of Commerce and Industry.
When was wholesale price index introduced in India?
The set of Wholesale Price Index numbers with base year 1993-94 was introduced with effect from April, 2000. Significant structural changes have taken place in the Indian economy since then.
What is the weighted response rate of WPI?
1. The WPI for March, 2021 have been compiled at a weighted response rate of 78 percent, while the final figure for January 2021 is based on the weighted response rate of 89 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI. 2.
Which is the weighted aggregative price index number?
Paasche’s price index number is the weighted aggregative price index numberwhich uses current year’s quantity as the weights. It is given by: ¦Pq11 × = ¦ P 0 q 1100
How are index numbers related to base year?
The index number for a particular future year is compared against a year in the nearpast, which is called base year. It may be kept in mind that the base year should be normal year and economically stable year. 11.7 CONCLUSION An index number is a statistical measure, designed to measure relative changes in
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