With reference to the Economic Survey 2022-23, which of the following statement is incorrect?
1
Services form a part of the core component of the CPI-C and crude oil, iron, aluminium and cotton occupy a larger weight in the WPI
2
The headline inflation based on WPI and the CPI-C are continuously diverging since March 2021
3
CPI inflation rose due to an increase in the prices of services.
4
Pass-through of international prices to wholesale prices is relatively quick, it impacts retail prices with a lag