The Ministry of Commerce and Industry (MoCI) on June 15, 2026, issued Press Release on New Series of Wholesale Price Index, And Producer Price Indices with Base Year 2022-23.
The Office of the Economic Adviser, DPIIT has introduced a revised Wholesale Price Index (WPI) series with a new base year of 2022–23, replacing the earlier 2011–12 series, along with new Producer Price Indices (PPI) such as Output PPI, trial Input PPI, and Service PPI for selected sectors. This initiative aims to modernize India’s price measurement system and align it with global best practices and IMF recommendations. To facilitate a smooth transition, both WPI and PPI will be published for five years, after which WPI will be discontinued, allowing users time to shift to the more comprehensive PPI framework.
The new WPI series incorporates several methodological and structural improvements, including an expanded basket of items, inclusion of renewable energy sources like solar and wind, reclassification of fuel-related items, and improved weighting based on Gross Value of Output (GVO). It also adopts better computation techniques and advanced methods for handling missing data, making the index more accurate and reflective of domestic production trends. Additionally, linking factors have been provided to help compare the old and new series, though users are advised to exercise caution.
The newly introduced PPIs provide deeper insights into price movements by capturing both output and input costs across industries. Output PPI and WPI are compiled at basic prices, while Input PPI is based on purchaser prices, offering a clearer picture of how input cost inflation affects production. Service PPIs for seven sectors have also been launched in phases, enhancing coverage of the services economy. Trial Input PPI is currently being released on an experimental basis to assess data quality and gather stakeholder feedback.
Recent provisional data for May 2026 indicates that WPI inflation rose to 9.68% year-on-year, driven largely by increases in fuel and power, manufactured products, and primary articles. The indices are released on a regular schedule—monthly for WPI and PPIs, and quarterly for Service PPIs—with back series data made available online. Overall, the revised framework offers a more comprehensive, transparent, and reliable system for tracking price changes across goods and services in the economy.
[Release ID: 2272872]
