UPSC CSE Prelims 2020 Q67 — Indian Economy PYQ with Answer

Consider the following statements:

1. The weight of food items is higher in the Consumer Price Index (CPI) than in the Wholesale Price Index (WPI).

2. WPI does not capture changes in the prices of services, whereas CPI does.

3. The Reserve Bank of India has adopted WPI for its primary measure of inflation and for deciding key policy rates.

Which of the statements given above is/are correct?