Insectivorous Plants |  Causes of Revolt of 1857 in Points |  Ordinance Making Power of President and Governors |  Mangroves Cover in India |  Coral Reefs in India |  Seasons and Climate in India |  Constitutional and Statutory Bodies in India |  Rock Edicts of Ashoka |  Types of Motions in Parliamentary Procedure |  Types of Majorities in Parliament |  Pressure Groups in World and India |  Order of Precedence |  Types of Rocks |  Treaties in Indian History |  Types of Rocks |  Features of Indian Economy |  Geographical Indications |  Ancient History Terminology and Meanings |  Schedules of the Constitution |  Nuclear Power Plants in India List  |  Types of Clouds for SSC CGL | Nuclear Power Plants in India ListTypes of Ocean CurrentsStructure: Layers of EarthAPPSC Group 1 Answer KeySSC JE 2017 QUESTION PAPEROne Word Substitution for SSC and Bank ExamsMPSC Answer Key 2017 2017Layers of AtmosphereMPSC Answer Key 2017 2017BPSC Solved Question Paper 2017MPPSC Solved Question Paper 2017GST Bill IndiaDelhi SultanateLaw Commission of IndiaOscar Awards Winner 2017 ListDiseases in CropsCommon Drugs and UsesDifferent Types of Deserts in WorldUPSC Civil Services Exam-2016 Answer KeyUPSC CAPF Exam-2016 Answer Key | UPPSC UPPER Subordinate Exam-2016 Answer Key | Regulatory BodiesNational Parks in India | International Airports in India  | United Nation International Years National Highways | National Birds of Countries | Sessions of Congress  | Facts About Kerala
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Ordinance Making Power of President and Governors |  Mangroves Cover in India |  Coral Reefs in India |  Seasons and Climate in India |  Constitutional and Statutory Bodies in India |  Rock Edicts of Ashoka |  Types of Motions in Parliamentary Procedure |  Types of Majorities in Parliament |  Pressure Groups in World and India |  Order of Precedence |  Types of Rocks |  Treaties in Indian History |  Types of Rocks |  Features of Indian Economy |  Geographical Indications |  Ancient History Terminology and Meanings |  Schedules of the Constitution |  Nuclear Power Plants in India List  |  Types of Clouds for SSC CGL | Nuclear Power Plants in India ListTypes of Ocean CurrentsStructure: Layers of EarthAPPSC Group 1 Answer KeySSC JE 2017 QUESTION PAPEROne Word Substitution for SSC and Bank ExamsMPSC Answer Key 2017 2017Layers of AtmosphereMPSC Answer Key 2017 2017BPSC Solved Question Paper 2017MPPSC Solved Question Paper 2017GST Bill IndiaDelhi SultanateLaw Commission of IndiaOscar Awards Winner 2017 ListDiseases in CropsCommon Drugs and UsesDifferent Types of Deserts in WorldUPSC Civil Services Exam-2016 Answer KeyUPSC CAPF Exam-2016 Answer Key | UPPSC UPPER Subordinate Exam-2016 Answer Key
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Sunday, 31 December 2017

What is the base year for WPI & CPI as per 2017?

  GKPlanet Team       Sunday, 31 December 2017

CPI Base Year

  consumer price index (CPI) measures changes in the price level of the market basket of consumer goods and services purchased by households. The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically.
  The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods. Some countries (like the Philippines) use WPI changes as a central measure of inflation.But now India has adopted new CPI to measure inflation. However, United States now report a producer price index instead.
  The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. All India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. It is compiled and published monthly by the Central Statistical Organisation (CSO) six weeks after the reference month ends.
  WPI and IIP base year were very recently revised, earlier 2004–05 was taken to be the base year, now it has shifted to 2011–12.
  CPI, on the other hand, is not so widely used due to its volatility and inaccuracy. It takes 2012 as its base year.

Base Year For CPI: 2012=100

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.
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