India to unveil revamped WPI, producer price indices on 15 June
Key points
- New Delhi: The government will this month roll out a revised Wholesale Price Index (WPI) with a new 2022-23 base year and introduce a new set of Producer Price Indices (PPIs), marking a major overhaul of how producer inflation is measured in India.
- The changes expand the commodity basket, update the weighting and calculation methodology, and align India's inflation framework more closely with global practices.
- According to a statement by the department for promotion of industry and internal trade (DPIIT) on Tuesday, the revised WPI series with base year 2022-23 will replace the 2011-12 series.
- The Office of the Economic Adviser will release the new series on 15 June.
- Alongside the revised WPI, the government will also release a new Output Producer Price Index (OPPI), a trial Input Producer Price Index (IPPI) and Service Producer Price Indices for seven services—banking, securities transactions, insurance, management of pension funds, railways, air passenger...
Quick Summary
New Delhi: The government will this month roll out a revised Wholesale Price Index (WPI) with a new 2022-23 base year and introduce a new
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to India to unveil revamped WPI, producer price indices on 15 J.
Key Takeaways
- New Delhi: The government will this month roll out a revised Wholesale Price Index (WPI) with a new 2022-23 base year and introduce a new set of Producer Price Indices (PPIs), marking a major overhaul of how producer inflation is measured in India.
- The changes expand the commodity basket, update the weighting and calculation methodology, and align India's inflation framework more closely with global practices.
- According to a statement by the department for promotion of industry and internal trade (DPIIT) on Tuesday, the revised WPI series with base year 2022-23 will replace the 2011-12 series.
- The Office of the Economic Adviser will release the new series on 15 June.
- Alongside the revised WPI, the government will also release a new Output Producer Price Index (OPPI), a trial Input Producer Price Index (IPPI) and Service Producer Price Indices for seven services—banking, securities transactions, insurance, management of pension funds, railways, air passenger transport and telecom.
📌 Source: LiveMint
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