Index Numbers
Calculate weighted index of price of the following data :
Commodity |
Price |
||
Base Period |
Current Period |
Weight (%) |
|
Wheat |
Rs. 10 per Kg |
Rs. 15 per Kg |
30 |
Price |
Rs. 15 per Kg |
Rs. 25 per Kg |
40 |
Salt |
Rs. 2 per Kg |
Rs. 2.50 per Kg |
2 |
Ghee |
Rs. 40 per Kg |
Rs. 60 per Kg |
5 |
Milk |
Rs. 12 per litre |
Rs. 15 per litre |
20 |
Cloth |
Rs. 40 per litre |
Rs. 60 per litre |
30 |
Commodity |
Price |
|||
Base Period |
Current Period |
Weight (%) |
Price relatives |
|
Wheat |
Rs. 10 per Kg |
Rs. 15 per Kg |
30 |
![]() |
Rice |
Rs. 15 per Kg |
Rs. 25 per Kg |
40 |
![]() |
Salt |
Rs. 2 per Kg |
Rs. 2.50 per Kg |
2 |
![]() |
Ghee |
Rs. 40 per Kg |
Rs. 60 per Kg |
5 |
![]() |
Milk |
Rs. 12 per litre |
Rs. 15 per litre |
20 |
![]() |
Cloth |
Rs. 40 per litre |
Rs. 60 per litre |
3 |
![]() |
ΣW = 100 |
![]() |
Weighted Index of Price =
Sponsor Area
As index number which accounts for the relative importance of the items is knwon as:
In most of the weighted index numbers the weight pertains to:
The impact of change in the price of a commodity with little weight in the index will be:
A consumer price index measures changes in:
The item having the highest weight in consumer price index for industrial workers is:
In general, inflation is calculated by using:
The item having the highest weight in consumer’s price index for industrial workers is:
consumer price index measures changes in:
The wholesale price index.
D.A. paid to the workers is based on:
Sponsor Area
Sponsor Area