.. Economics Of Ms/hsd Price Hike

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01 Aug 2005


Inflation is an increase in the price of a basket of goods and services that is representative of the economy as a whole. Inflation is measured by change in the movement of Index numbers of Wholesale Price Index Numbers (WPI) or the Consumer Price Index (CPI) on year to year basis. WPI, which is based on wholesale price quotations, is a more widely used measure owing to the short time lag (2 weeks) involved in getting data, CPI, based on retail prices, is calculated on monthly basis and is available with a time lag of one month. WPI is compiled by the Office of Economic Advisor, D/o Industrial Policy & Promotion in Ministry of Commerce & Industry. The provisional index is made final after eight weeks. CPI is compiled the......

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