A Note on the Wholesale Price Index in 1960-61

In this note an attempt is made to extend the wholesale price index prepared in the Institute of Development Economics1 to 1960-61. That index, which was computed for the East and West wings separately and for the whole of Pakistan, covered a period of nine years from 1951-52 to 1959-60 (July-June)...

Full description

Saved in:
Bibliographic Details
Published in:Pakistan development review 1961-12, Vol.1 (3), p.73-78
Main Authors: Khan, S. U., Khan, Rafique Ahmad
Format: Article
Language:English
Subjects:
Average prices
Coal
Commodities
Commodity prices
Economic indices
Market prices
Price indices
Wholesale price index
Wholesale prices
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:In this note an attempt is made to extend the wholesale price index prepared in the Institute of Development Economics1 to 1960-61. That index, which was computed for the East and West wings separately and for the whole of Pakistan, covered a period of nine years from 1951-52 to 1959-60 (July-June) with 1951-52 as the base year. The West Pakistan index covers 35 commodities while the commodities included in East Pakistan index number 25. The weights for each wing are derived from the net quantity available to final users in each year. It should be remembered that this whole¬sale price index is not an all-purpose general price index; its coverage and scope are limited. It is a measure of annual wholesale price changes for certain goods in East and in West Pakistan. Further details of the index may be found in the monograph cited in footnotel. The present index for 1960-61 is computed by the Laspeyres formula alone as it was not possible to calculate the Paasche index without information on quantities available during 1960-61.2 For the same reason it is not possible to extend the analysis of quantity indices previously presented for both wings of Pakistan.3
ISSN:0030-9729
DOI:10.30541/v1i3pp.73-78