WPI Falls to 21-Month Low

Current Context: The Ministry of Commerce and Industry stated that the Wholesale Price Index (WPI)-based inflation dropped to a 21-month low.

• The WPI was recorded to be 5.85% in November 2022, compared to 14.87% in November 2021.
• The primary reason for this fall may be attributed to easing prices of:

1. Food Articles
2. Chemical and Chemical Products
3. Basic Metals
4. Textiles
5. Paper and Paper Products

• Sector-based WPI Rates in November 2022:

1. Food Inflation- 2.17%
2. Manufactured Products- 3.59%
3. Energy Sector- 17.35%
4. Vegetable- (-ve) 20.08%

• The WPI is a measure of change in the price of a basket of goods and products (not services) at a wholesale level.
• It is published by the Office of Economic Adviser under the Ministry of Commerce and Industry and 2011-12 is considered as the base year to calculate it.

Question:

Q.1 The WPI for November 2022 was recorded at?
a. 5.85%
b. 6.00%
c. 6.15%
d. 6.30%