Measurement Of Inflation
Measurement Of Inflation In India
A. Consumer Price Index
Two Ministries - Ministry of Statistics and Program me Implementation (MOSPI) and Ministry of Labor and Employment (MOLE) are engaged in the construction of different CPls for different groups/sectors. CPI inflation is also called as retail inflation as the prices are quoted from retailers. Following are the various CPls.
(a) CPI for all India or CPI combined
(b) CPI for Agricultural Laborers (AL)
(c) CPI for Rural Laborers (RL); and
(d) CPI for Industrial Workers (IW)
(i) CPI by MOSPI (CSO)
(ii) CPIs by MOLE (Labor Bureau)
What is the difference between the various CPIs?
Difference between the various CPIs is not just that they measure price level changes for different sectors or groups In addition to such a sector specific price level measurement; these indices different in terms of their geographical coverage, commodities included, weights assigned to the different commodity groups and the base year on the basis of which price level changes are compared.
The Wholesale Price Index (WPI)
| Different Price in India | ||
| Index | Agency | Base Year |
| WPI | Office of Economic Affairs, Ministry of Commerce and Industries (MOCI) | 2004 - 05 |
| CPI | All India, CPI Urban and Rural CSO, Ministry of Statistics and Program me Implementation (MOSPI) | 2012 |
| CPI-AL | Labor Bureau, Ministry of Labour and Employment (MOLE) | 1986 - 87 |
| CPI-RL | 1986 - 87 | |
| CPI-IW | 2001 | |
To combat rising inflation, RBI has to do which of the following activities ? | |||
| Right Option : D | |||
| View Explanation | |||
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