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 ?
a
1 and 2 only
b
2 only
c
3 only
d
1, 2 and 3
Inflation MeasurementConsumer Price Index (CPI) and Wholesale Price Index (WPI)Consumer Price Index (CPI)Wholesale Price Index (WPI)food weightageservices pricesReserve Bank of India (RBI)inflation targetingpolicy rates