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Which parameter is used to quote inflation rates in India?
- a)Gross Domestic Product
- b)Wholesale Price Index
- c)Balance of Payment
- d)Repo Rate
Correct answer is option 'B'. Can you explain this answer?
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Which parameter is used to quote inflation rates in India?a)Gross Dom...
Inflation rates in India are usually quoted as changes in the Wholesale Price Index (WPI), for all commodities. Many developing countries use changes in the consumer price index (CPI) as their central measure of inflation.
Wholesale Price Index (WPI) measures the average change in the prices of commodities for bulk sale at the level of early stage of transactions.
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Which parameter is used to quote inflation rates in India?a)Gross Domestic Productb)Wholesale Price Indexc)Balance of Paymentd)Repo RateCorrect answer is option 'B'. Can you explain this answer?
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