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With respect to inflation in the Indian context, consider the following statements: 1. Retail inflation, measured by the Consumer Price Index (CPI), is the primary metric used by the Reserve Bank of India (RBI) for monetary policy formulation. 2. Core inflation includes volatile components like food and fuel prices, providing a more stable measure of underlying inflationary pressures. 3. Supply-side factors, such as monsoons affecting agricultural output and global crude oil prices, play a significant role in India's inflation dynamics. 4. Headline inflation refers to the total inflation in an economy, including volatile components such as food and energy prices. Which of the above statements are correct?
This question appeared in the OPSC Prelims 2024 examination (GS). It is Question 63 out of 177 questions in this paper.
This question was part of the OPSC Prelims 2024 (GS). The OPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all OPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.