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What is WPI

Chapter 16
Managing Inflation and Supply Chain Disruptions in the Global Economy
A measure of inflation faced by the manufacturing industry, generally there is a lag between the WPI and CPI levels as the manufacturers hold on to prices as much as possible to smooth the production and deplete inventories.
Published in Chapter:
Will BRENT Reach the $300 Mark?
Ulas Akkucuk (Usak University, Turkey)
Copyright: © 2023 |Pages: 11
DOI: 10.4018/978-1-6684-5876-1.ch016
Abstract
Petrol crises have crippled the economies of the developed nations may times in modern history. Still, fossil fuels are an important source of transportation, and price changes deeply affect the social and economic wellbeing of the citizens. While research on alternative fuels is on the rise and there are many incentives, the reliance on fossil fuels is not diminished. Lately, as a result of the conflict in Ukraine, petrol prices went up again. This chapter will shed light on the past crises and will try to examine how much further petrol prices can go. Also, the relationship between energy prices and subjective wellbeing will be illustrated with examples from the literature. The chapter will also offer some suggestions for a sustainable green world.
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