A Note on the Wholesale Price Index in 1960-61

S. U. Khan, Rafique Ahmad Khan

Abstract


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

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DOI: https://doi.org/10.30541/v1i3pp.73-78

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