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Standard Report
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Methods and Quality
for
Wholesale Price Indexes documentation applies to the reporting period:
January 2010 to Presents edited: 13 October 2017CENTRAL STATISTICS OFFICE
Steward
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How to fill out wholesale price index
How to fill out wholesale price index
01
To fill out the wholesale price index, follow these steps:
02
Gather data: Collect information on wholesale prices of different products or commodities for a specific period.
03
Select a base period: Determine the base period against which all prices will be compared.
04
Calculate price relatives: Calculate the price relatives for each product by dividing the wholesale price of the current period by the wholesale price of the base period and multiplying by 100.
05
Calculate weighted index: Assign weights to each product based on their significance and calculate the weighted index by multiplying the price relatives by their respective weights.
06
Calculate the final index: Sum up the weighted indexes to obtain the overall wholesale price index for the given period.
07
Monitor and update: Continuously gather new data and update the index periodically to reflect changes in wholesale prices.
Who needs wholesale price index?
01
The wholesale price index is important for various stakeholders including:
02
- Government: It helps the government to monitor and control inflation, plan economic policies, and make informed decisions related to price regulations.
03
- Businesses: Businesses can use the wholesale price index to analyze market trends, make pricing decisions, and evaluate profit margins.
04
- Economists: Economists rely on the index to study inflation, market stability, and economic indicators.
05
- Investors: Investors can utilize the index to assess the performance of specific industries and make investment decisions accordingly.
06
- Researchers: Researchers use the index to study the impact of price changes on different sectors of the economy.
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What is wholesale price index?
The wholesale price index (WPI) measures and tracks the changes in prices of goods bought and sold in bulk by businesses.
Who is required to file wholesale price index?
Businesses and entities involved in wholesale trade are required to file wholesale price index.
How to fill out wholesale price index?
To fill out wholesale price index, businesses need to report on the prices of goods bought and sold in bulk based on specific categories.
What is the purpose of wholesale price index?
The purpose of wholesale price index is to monitor inflation and analyze price trends in the wholesale sector.
What information must be reported on wholesale price index?
Businesses must report on the prices of goods bought and sold in bulk, categorized by product type and industry sector.
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