Consider the following statements: 1. The weightage of food in Consumer Price Index (CPI) is higher than that in Wholesale Price Index (WPI). 2. The WPI does not capture changes in the prices of services, which CPI does. 3. Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates. Which of the statements given above is/are correct?
A1 and 2 only
B2 only
C3 only
D1, 2 and 3
Answer & Solution
Correct answer: A. 1 and 2 only
UPSC CSE Prelims 2020 (GS-I, Set A), Q.67. Official answer key: A.
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