The correct answer is (c) consumer price index (CPI).
The CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is a key indicator of inflation, and is used by the Reserve Bank of India to set monetary policy.
The CPI is calculated by the Ministry of Statistics and Programme Implementation (MoSPI). The MoSPI collects data on prices of a basket of goods and services from a sample of households across the country. The prices are then weighted to reflect the importance of each good and service in the consumption basket. The CPI is published monthly.
The CPI is a useful tool for tracking inflation, but it has some limitations. One limitation is that it does not capture changes in the quality of goods and services. Another limitation is that it does not capture changes in the prices of goods and services that are not included in the consumption basket.
Despite its limitations, the CPI is a valuable tool for tracking inflation. It is used by the Reserve Bank of India to set monetary policy, and it is also used by businesses and households to make economic decisions.
The other options are incorrect because they are not measures of inflation. General price rise is a general term that refers to an increase in the prices of goods and services. Consumer price idex for industrial workers (CPI-IW) is a measure of the average change over time in the prices paid by industrial workers for a market basket of consumer goods and services.