Price Indices

Price poweres in India 1) GDP Deflator : GDP deflator is an index of the prices of every(prenominal) final goods and services, and excludes intermediates and raw materials . (2) WPI (Wholesale Price Index) : WPI is the index of the weighted amount of prices of all goods produced and/or transacted in the economy at the sell take aim.. This includes the prices of intermediates or semi-finished goods, and also raw materials which are transacted at the wholesale level. The WPI, however, excludes prices of services such as, education, health, financial services, transport and communication. For calculation of WPI, weights are assigned to all prices included in the index on the basis of the relative values of wholesale transactions of versatile goods. The weighted aritmetic mean is is used for computation of the index. WPI is computed at all-India level only. (3) CPI-IW (Consumer Price Index for Industrial Workers) CPI-IW is the index of average sell price of goods and servicees.

, which comprise the manipulation basket of industrial workers. Because the spending basket consists of only consumer goods and services used by industrial workers, the index excludes the prices of capital goods and all intermediate goods. The Dearness readjustment of the Central Government Employees is based on the CPI-IW. (4) CPI-UNME (consumer Price Index for Urban non-Manual Employees) CPI-UNME is based on the consumption pattern of middle class families. (5) CPI-AL(Consumer Price Index for Agricultural Labourers) CPI-AL is based on the consumption basket of agricultural labourers in India. If you want to get a full essay, order it on our website: Orderessay

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