Which of the following Institution / Office bring out the Wholesale Price Index (WPI) data in India ?

The correct answer is B. WPI is compiled and published by the Office of the Economic Adviser, which sits under the Department for Promotion of Industry and Internal Trade (DPIIT), and DPIIT falls under the Ministry of Commerce and Industry.

Why the others are wrong:

• A (RBI): The RBI uses inflation data, including CPI, to run monetary policy, but it does not compile WPI.
• C (Ministry of Finance): It frames fiscal policy and uses price indices, but it does not produce WPI.
• D (Consumer Affairs, Food and Public Distribution): This ministry handles food supply and public distribution. WPI is not its product.

Core concept: WPI tracks price changes of commodities at the wholesale stage across primary articles, fuel and power, and manufactured products. The current base year is 2011-12, revised from 2004-05 in 2017. The Mains angle is the difference between WPI and CPI: WPI is a producer-side measure, while CPI, compiled by MoSPI, is the retail measure the RBI targets under its inflation framework since 2016.

Trap: Aspirants often pick RBI because it is the 'inflation' institution. Remember that the RBI consumes WPI data but does not produce it.