The conversation between human and AI assistant.
What is WPI and CPI? How is it measured? What is the role of a base year?
Can you explain to me what WPI and CPI are and how they are measured?
Certainly! WPI stands for Wholesale Price Index, which measures the changing prices of goods at the wholesale and production level, while CPI stands for Consumer Price Index, which measures the changing prices of goods and services at the retail or final consumption level.