Retail Inflation | Wholesale Inflation | |
---|---|---|
Definition | The rate at which the general level of | The rate at which the wholesale prices of |
prices for goods and services rises, | goods in bulk or at the wholesale level | |
affecting the purchasing power of | increase or decrease over a given period | |
consumers | ||
Measurement | Consumer Price Index (CPI) | Wholesale Price Index (WPI) |
Basket of Goods | Includes essential goods and services | Includes goods at the wholesale level, |
purchased by consumers | excluding taxes and retail margins | |
Components | Food, housing, transportation, healthcare, | Primary articles, fuel and power, |
education, etc. | manufactured products | |
Importance | Directly impacts consumers’ cost of | Provides insights into inflationary |
living and purchasing power | pressures faced by producers and businesses | |
Impact | Higher inflation reduces purchasing power | Higher wholesale inflation may lead to |
and can affect economic growth increased costs for businesses and | ||
potentially higher retail prices for goods | ||
Policy Considerations | Central banks often use retail | Wholesale inflation data is used by the |
inflation to guide monetary policy | government and policymakers to monitor | |
decisions, such as interest rates | overall price trends and make informed | |
decisions regarding economic policies |
Key Information | |
---|---|
Definition | An index that measures the |
performance of various | |
industrial sectors in the | |
Indian economy | |
Calculated by | Central Statistical |
Organisation (CSO) | |
Frequency | Monthly |
Latest Update (May 2023) | IIP growth: 5.2% |
Base Year | 2011-12 |
Core Industries Represented | Eight core sectors |
Core Industries (Weight in IIP) | |
Coal | 10.33% |
Electricity | 19.85% |
Crude oil | 8.98% |
Cement | 5.37% |
Natural gas | 6.88% |
Steel | 17.92% |
Refinery products | 28.04% |
Fertilizers | 2.63% |
Total | 100% |
Base Year Revisions | 9th revision since 1950 |
First base year: 1937 | |
Items Introduced (Examples) | Refined palm oil, surgical |
accessories, cement clinkers | |
Items Removed (Examples) | Chewing tobacco, toothbrush, |
calculators, fans, watches, | |
pens |
Barley, a versatile and resilient cereal grain, plays a crucial role in global agriculture and…
Uttar Pradesh, often abbreviated as UP, is one of India's most populous and culturally rich…
Indian athletic sensation Neeraj Chopra continued his dominance in the men's javelin throw event, clinching…
The United States is known for its diverse range of state nicknames, each reflecting unique…
India, one of the world's fastest-growing economies, is home to several billionaires who have carved…
In FY24, Bank of Maharashtra emerged as a frontrunner among public sector banks, showcasing remarkable…