Inflation in India is measured on which of the following indexes / indicators?

Question

Which company has launched a dedicated air cargo service in India to speed up deliveries?

Answer 1

This question is about identifying the index India used to officially report inflation at the time of this exam.

Cost of Living Index (CLI): Used to compare living costs across regions or time periods, not adopted as India's official inflation indicator.
Consumer Price Index (CPI): Tracks retail-level prices and became India's main inflation benchmark only from 2014 onward, so it was not the measure in use at the time of this paper.
Gross Domestic Product (GDP): Represents the total output of the economy, it is unrelated to tracking price changes.
Wholesale Price Index (WPI): Tracked wholesale-level price changes across a basket of goods and was the index India's government used to declare the official inflation rate at the time.

The correct answer is the Wholesale Price Index (WPI), the index India relied on for its official inflation figure at the time.

Answer 2

This question is about identifying the index India used to officially report inflation at the time of this exam.

Cost of Living Index (CLI): Used to compare living costs across regions or time periods, not adopted as India's official inflation indicator.
Consumer Price Index (CPI): Tracks retail-level prices and became India's main inflation benchmark only from 2014 onward, so it was not the measure in use at the time of this paper.
Gross Domestic Product (GDP): Represents the total output of the economy, it is unrelated to tracking price changes.
Wholesale Price Index (WPI): Tracked wholesale-level price changes across a basket of goods and was the index India's government used to declare the official inflation rate at the time.

The correct answer is the Wholesale Price Index (WPI), the index India relied on for its official inflation figure at the time.

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