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

Explanation

Option (c) is correct

• Consumer Price Index (CPI) measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households.
• It measures changes over time in the level of retail prices of selected goods and services on which consumers of a defined group spend their incomes.
• Base year for CPI: 2012.
• Four types of CPI
  • CPI for Industrial Workers (IW).
  • CPI for Agricultural Labourer (AL).
  • CPI for Rural Labourer (RL).
  • CPI (Rural/Urban/Combined).
• Of these, the first three are compiled by the Labour Bureau in the Ministry of Labour and Employment, fourth is compiled by the Central Statistical Organization (CSO) in the Ministry of Statistics and Programme Implementation.

Answer: (c) The Labour Bureau; Difficulty Level: Easy