Question: Recently there was a news of releasing of Wholesale Price Index . Wholesale Price Index is released by which of the following?
(a) Department for Promotion of Industry and Internal Trade
(b) Department of Space
(c) Department of Drinking Water and Sanitation
(d) None of these
Answer : (a)
Related Facts:
- The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is released index numbers of Wholesale Price in India (Base Year: 2011-12) for the month of May, 2021 (Provisional) and for the month of March, 2021 (Final) .
- Provisional figures of Wholesale Price Index (WPI) are released on the 14th of every month (or next working day) with a time lag of two weeks of the reference month based on data compiled from institutional sources and selected manufacturing units across the country.
- After 10 weeks, the index is finalized and final figures are released.
- The annual rate of inflation, based on monthly WPI, was 12.94% (Provisional) for the month of May, 2021 (over May, 2020) as compared to -3.37% in May 2020.
- The high rate of inflation in May 2021 is primarily due to low base effect and rise in prices of crude petroleum, mineral oils viz. petrol, diesel, naphtha, furnace oil etc. and manufactured products as compared the corresponding month of the previous year.
- The annual change in the components of WPI index and inflation in the last three months is given below.
BY: AMIT GUPTA
Reference: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1726879