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    Question

    The Consumer Price Index for Industrial Workers (CPI-IW)

    is a critical indicator of inflation used in India. Which of the following statements about the CPI-IW for August 2024 is incorrect?
    A The All-India CPI-IW decreased by 0.1 points in August 2024 compared to the previous month. Correct Answer Incorrect Answer
    B The year-on-year inflation based on the CPI-IW for August 2024 was 2.44%. Correct Answer Incorrect Answer
    C The base year for the calculation of CPI-IW is 2001. Correct Answer Incorrect Answer
    D The CPI-IW is compiled by the Labour Bureau under the Ministry of Labour & Employment. Correct Answer Incorrect Answer
    E Retail prices are collected from 317 markets across 88 industrial centers for the compilation of CPI-IW. Correct Answer Incorrect Answer

    Solution

    The base year for CPI-IW has been updated to 2016 and is not 2001. The other statements are accurate with respect to the CPI-IW for August 2024.

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