The Ministry of Commerce & Industry (MoCI) on June 02, 2026, notified regarding the Base Year of Wholesale Price Index Revised from 2011–12 to 2022–23.
The following has been stated:
• The Government has approved the revision of the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23, and the new series will be released by the Office of Economic Adviser, DPIIT, on June 15, 2026. Along with the revised WPI, the Government will introduce the Output Producer Price Index (OPPI), the Trial Input Producer Price Index (IPPI), and Service Producer Price Indices (PPI) for seven services, including banking, insurance, railways, air passenger transport, telecom, securities transactions, and pension fund management. The existing WPI series will be replaced by the new WPI (2022-23), though it will continue to be published for five years to facilitate a gradual transition to PPI-based pricing practices.
• Key improvements in the new WPI include an increase in the number of commodities from 697 to 957, inclusion of solar, wind, and nuclear electricity, reclassification of crude petroleum and natural gas under the Fuel & Power group, adoption of Gross Value of Output (GVO) for determining weights, implementation of a chain-based index compilation methodology, and use of targeted mean imputation for missing price data.
• The revised framework aligns India’s producer price measurement system with international best practices and provides a more accurate reflection of producer-level inflation. Monthly WPI and Output PPI data, along with historical series from April 2023 onwards, will be released from June 15, 2026, while Service PPI will be published quarterly, and Input PPI will initially be released on an experimental basis for the manufacturing sector.
[Pres Release ID: 2267963]
