Price indices like the Wholesale Price Index (WPI) or Consumer Price Index (CPI) have components that represent major categories of goods. The food component in these indices typically covers unprocessed food items (like cereals, pulses, fruits, vegetables, milk, eggs, meat, fish) and processed/ manufactured food items (like bread, edible oils, sugar, processed spices, beverages).
Which products are considered to deduce the Food Index?
Asked in MPSC CS Prelims 2012 · Topic: Money & Banking (Inflation: Types, Causes, Effects, and Monetary Policy Responses)
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Answer: A. Primary food articles and manufactured food products
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