Knowledge Nugget: CPI vs WPI and Inflation basics for UPSC preparation
Indian Express·6h ago·Neutral
What Happened
India's Consumer Price Index rose to 3.4% in March, slightly above February's 3.21%, while food inflation accelerated to 3.87%. The Ministry of Statistics released an updated CPI with base year 2024, replacing 2012, expanding the basket to 358 goods and services from 59. CPI measures retail prices; WPI measures wholesale prices.
Key Entities
Consumer Price Index (CPI)Wholesale Price Index (WPI)Ministry of Statistics and Programme Implementation (MoSPI)Reserve Bank of India (RBI)Base Year 2024Food InflationUPSC Prelims