Economic Awareness - Sectors of Indian Economy
Which of the following best describes the difference between Wholesale Price Index (WPI) and Consumer Price Index (CPI)?
Which of the following best describes the difference between Wholesale Price Index (WPI) and Consumer Price Index (CPI)?
medium Q6 of 15
Step-by-Step Solution
Step 1: Understand WPI and CPI measurement levels
WPI tracks wholesale prices; CPI tracks consumer retail prices.Step 2: Analyze options
Only the statement that WPI measures wholesale prices and CPI measures consumer prices is correct.Final Answer:
WPI measures prices at wholesale level; CPI measures prices at consumer level → Option DQuick Check:
WPI = wholesale prices; CPI = consumer prices ✅
Quick Trick: Remember WPI excludes services; CPI includes services and retail goods.
Common Mistakes:
- Confusing the levels at which WPI and CPI measure prices.
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