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WPI inflation rises to 3-year high due to crude oil surge

Context: WPI inflation

Wholesale Price Index WPI rose sharply in March due to crude oil shock from West Asia tensions.

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PYQ – 2020, Ans – A

Key data

• WPI Wholesale Price Index 3.88 percent highest in 38 months
• Previous 2.13 percent
• Crude petroleum up 49.1 percent
• Chemicals ammonia PVC rising
• Fuel prices LPG petrol diesel ATF increased
• CPI Consumer Price Index 3.4 percent

Reasons

• Crude oil surge
• Fuel and energy cost rise
• Petrochemical input cost push

WPI and CPI

Meaning
• WPI Wholesale Price Index measures wholesale prices
• CPI Consumer Price Index measures retail prices

Coverage
• WPI primary articles fuel manufactured goods excludes services
• CPI food fuel housing clothing services

Released by
• WPI Office of Economic Adviser Ministry of Commerce
• CPI National Statistical Office Ministry of Statistics

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WPI inflation rises to 3-year high due to crude oil surge

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