BEGIN GS FOR UPSC 2025 TOPIC:-01:- HOW IS INFLATION IS CALCULATED AND HOW ITS EFFECT? 1. India's rank 13th What is inflation? 1. Rate of increase in prices of goods and services 2. Rakesh buying Maggie 😊- purchase at wholesale and retail selling 3. WPI-only commodity and CPI-Retail- only services 4. How is inflation rate calculated:- - year on yearly basis :- price range increase - Every Month - calculation 🧮:- capture percentage change Consumer price index ( CPI):- 1. Change in Goods and services base year is 2012- consumed by defined population group in given area. 2. CPI id captured by - NSO goods and services inclusion 3. CPI calculated:- Food and housing units - miscellaneous expenses 4. HCES :- survey - spending of people 5. Based on consumption of public 45% consumption of food 🥑🥝 6. WPI:- rural urban housing - of India 7. CPI combined:- Rural+urban :- pressure over CPI Headline inflation:- CPI-COMBINED(CPI-C) Core Inflation:- (CPI-C)- ''Food and Beverage and fuel and light ''-12 categories -2 =10 only Food inflation is major concern for india. Financial year:- Food inflation -7.5 Core inflation - 4.3 Inflation and monetary policy:- 1. Demand and supply 📉 📈 2. Readjustment of supply is difficult 3. Demand readjustment is easy 4. Control of inflation by MPC -6 members and led by Governor of RBI 5. Repo rate - intrest on lending loans to banks. 6. Increase in interest for adjusting inflation is required.
wpi is calculatd by office of eonomic advisor [ministry of commerce and industry] mpc has 6 member 3 from rbi 3 appointed by govt. chaired by rbi governor .
WPI calculated by office of economic advisor ministry of commerce and industry 3 from RBI and 3 from governor
BEGIN GS FOR UPSC 2025
TOPIC:-01:- HOW IS INFLATION IS CALCULATED AND HOW ITS EFFECT?
1. India's rank 13th
What is inflation?
1. Rate of increase in prices of goods and services
2. Rakesh buying Maggie 😊- purchase at wholesale and retail selling
3. WPI-only commodity and CPI-Retail- only services
4. How is inflation rate calculated:-
- year on yearly basis :- price range increase
- Every Month - calculation 🧮:- capture percentage change
Consumer price index ( CPI):-
1. Change in Goods and services base year is 2012- consumed by defined population group in given area.
2. CPI id captured by - NSO goods and services inclusion
3. CPI calculated:- Food and housing units - miscellaneous expenses
4. HCES :- survey - spending of people
5. Based on consumption of public 45% consumption of food 🥑🥝
6. WPI:- rural urban housing - of India
7. CPI combined:- Rural+urban
:- pressure over CPI
Headline inflation:- CPI-COMBINED(CPI-C)
Core Inflation:- (CPI-C)- ''Food and Beverage and fuel and light ''-12 categories -2 =10 only
Food inflation is major concern for india.
Financial year:-
Food inflation -7.5
Core inflation - 4.3
Inflation and monetary policy:-
1. Demand and supply 📉 📈
2. Readjustment of supply is difficult
3. Demand readjustment is easy
4. Control of inflation by MPC -6 members and led by Governor of RBI
5. Repo rate - intrest on lending loans to banks.
6. Increase in interest for adjusting inflation is required.
A is correct answer
Very nicely explained 😊
Kindly continue these series
wpi is calculatd by office of eonomic advisor [ministry of commerce and industry] mpc has 6 member 3 from rbi 3 appointed by govt. chaired by rbi governor .
A
Option A is correct
A is the correct answer.
Answer of question A
MPC is a 6 member body