Tag: Producer Price Index

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PrelimsBase Year of Wholesale Price Index Revised from 2011–12 to 2022–23 Source: PIB Context: The Ministry of Commerce and Industry announced the revision of the Wholesale Price Index (WPI) base year from 2011–12 to 2022–23, alongside the gradual phasing out of WPI. Base Year of Wholesale Price Index Revised from 2011–12 to 2022–23 About Base …

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Examine the role of price indices in GDP calculation. Compare the suitability of WPI and CPI in India’s context. Suggest improvements in deflator methodology.

Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment Q5. Examine the role of price indices in GDP calculation. Compare the suitability of WPI and CPI in India’s context. Suggest improvements in deflator methodology. (15 M) Difficulty Level: Difficult Reference: IE Why the question Ongoing debates on GDP misestimation …

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Producer Price Index

 Source: IE  Context: The DPIIT is finalizing a new model of the Producer Price Index (PPI) to better capture input prices in the economy.   What is PPI? Producer Price Index measures the average change in prices received by producers for goods and services sold in the domestic market or exported. It includes two types: …

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