differentiate between WPIand CPI
|Basis of Difference||CPI||WPI|
Consumer Price Index measures the changes in the cost of living in which the retail prices of consumer goods and services are obtained. Some of the common goods and services used in the construction of CPI are- food, clothing, housing, fuel and lighting, education, etc.
|Wholesale Price Index in an index that measures the overall changes in the price levels in the economy. It includes goods of three categories i.e primary goods, fuels, manufactured and industrial goods.|
|Uses||It helps to measure purchasing power of money, real wage rate etc.||It helps to estimate rate of inflation, measure changes in economic aggregates etc.|