The inflation rates in the country are the year-on-year
- Wholesale price index (WPI) based inflation rate
- Consumer price index (CPI) based inflation rate
- The CPI-based inflation data is compiled by the Ministry of Statistics and Programme Implementation (or MoSPI) and
- the WPI-based inflation data is put together by the Department for Promotion of Industry and Internal Trade (or DPIIT).
Difference
- WPI does not take into account the change in prices of services.
- If services such as transport, education, recreation and amusement, personal care, etc. get significantly costlier, then retail inflation will rise but there will be no impact on wholesale price inflation.
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