Question

UPSC Prelims 2015 Question:

Which of the following brings out the "Consumer Price Index Number for Industrial Workers”?

1. The Reserve Bank of India
2. The Department of Economic Affairs
3. The Labour Bureau
4. The Department of Personnel and Training

Answer (Detailed Solution Below)

Option 3: The Labour Bureau

Detailed Solution

Explanation:

The Consumer Price Index (CPI) is a measure of price changes in a basket of consumer goods and services purchased by households. CPI is a numerical estimate based on the prices of a sample of representative objects, the prices of which are collected on a regular basis.
The Labour Bureau, an attached office of the Ministry Labour and Employment, has been compiling the Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centers in the country.

Therefore, option (3) is the correct answer.

Subject: Economics | Inflation

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