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The Commission for Agricultural Costs and Prices (CACP) is an attached office under the Ministry of Agriculture & Farmers Welfare, Government of India, that recommends Minimum Support Prices (MSPs) for select crops. It was established in 1965 [2] as the Agricultural Prices Commission, and was given its present name in 1985. [3]
In India, a total of 697 commodities data on price level is tracked through WPI which is an indicator of movement in prices of commodities in all trade and transactions. It is also the price index which is available on a weekly basis with the shortest possible time lag only two weeks. [17] Base year to calculate WPI is 2011-2012=100
A price index (plural: "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.
Inflation rates in India are usually quoted as changes in the Consumer Price Index (CPI), for all commodities. Many developing countries use changes in the consumer price index (CPI) as their central measure of inflation. In India, CPI (combined) is declared as the new standard for measuring inflation (April 2014). [2]
The CSO was set up in the cabinet secretariat on 2 May 1951 as a part of the cabinet Secretariat and having co-ordinating and advisory functions. At that time the name of CSO was Central Statistical Institute. In 1954 the CSI merged with CSO and the new name was Central Statistical Organization.
C Series Index; Christmas Price Index; Collectible market index; Consumer price index; Consumer price index (Belgium) Consumer price index (South Africa) Consumer Price Index (United Kingdom) Consumer price index by country; Cost-of-living index