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CPI vs WPI and GNP vs GDP

Created by : Mathew Cherian, Research Associate/Analyst, Western Michigan University  | 02 17 2011 05:54:15 +0000
Keywords : cpi vs wpi and gnp vs gdp
Activity:  285 views;  last activity : 02 24 2011 17:48:15 +0000
 
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CPI, GNP Vs WPI, GDP
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Inflation nowadays are classified as 1) Headline inflation and 2) Factor inflation. Consumer Price Index is associated with headline inflation where the citizen can know the price movements based on demand/supply at the market level. Factor inflation depicts the picture of inflation in 'factors of produxtion', which are land, labor and capital. CPI is for news paper headlines and WPI is for administrative purposes. Here we use WPI for headline information. So is GNP and GDP. GDP can be of use only for some administrative purposes where local economic activity depicts gdp where as our involvement in foreign markets and real state of economy is known only if gnp or gross national product numbers are used in news items. gdp helps only in designing local administrative decision making.
By Mathew Cherian, Research Associate/Analyst, Western Michigan University  02 17 2011 05:54:15 +0000
 
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Support your views Mr.Mathew Ji.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 02 24 2011 17:48:15 +0000
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CPI presents the true picture of prices in the country which consumers commonly are concerned with. With WPI Common men and housewives are generally confused when they confront the reality in the market. CPI may be increasing when WPI may be shown falling.In India WPI is used to display prices but in USA CPI is in use. I advocate for CPI for correct depiction of price movements in the country. Similarly GNP encompasses all those factors taken care in GDP and also include exports and service exports. GNP is definitely a better standard for measuring what the country has produced gross.
By Kanti Mohan Pandit, CEO/MD/Director, Center- Business Intelligence & Forecasting Cal  | 02 17 2011 07:20:04 +0000
Argue for "CPI, GNP"
Argue for "WPI, GDP"
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