The competent authority approved the revision of the Base Year of the Wholesale Price Index (WPI) from 2011-12 to 2022-23 on 25.05.2026.
The compilation of Producer Price Indices (PPIs) was also approved.
The revised methodology was approved by the Technical Advisory Committee (TAC) on Statistics of Price and Cost of Living (SPCL) and presented to the National Statistical Commission (NSC).
The Office of Economic Adviser, DPIIT will release the revised WPI series with base year 2022-23 on 15.06.2026 at 12:00 noon.
The new series will replace the existing WPI series with base year 2011-12.
The Office will also release new series for:
Output Producer Price Index (OPPI) with base year 2022-23.
Trial Input Producer Price Index (IPPI) with base year 2022-23.
Service Producer Price Index (Service PPI) for seven services (Banking, Securities Transaction, Insurance, Management of Pension Funds, Railways, Air (Passenger), and Telecom) with base year 2022-23.
The WPI will be released for five more years from the date of the revised series release (15.06.2026) alongside PPI and then discontinued.
The transition from WPI to PPI aligns with global best practices and International Monetary Fund (IMF) recommendations.
The WPI and Output PPI will be compiled monthly.
Data for May 2026 (Provisional) and a back series from April 2023 to April 2026 (37 months) will be released on 15.06.2026.
The monthly Trial Input PPI (for Manufacturing Sector only) will be published on an experimental basis from March 2026 onwards.
The Service PPI, compiled quarterly, will be released for Q4 of 2025-26 (Provisional) with a back series from Q1 of 2023-24 to Q3 of 2025-26.
Key Highlights of New WPI Series (2022-23):
Increased number of Items: Total items increased from 697 to 957.
Inclusion of New and Renewable Energy: Solar, Wind, and Nuclear Electricity added under the ‘Electricity’ Group.
Reorganized Energy Prices: Crude Petroleum and Natural Gas shifted from ‘Primary Articles’ to the ‘Fuel and Power’ group.
Improved Weight Derivation: Weights are now based on Gross Value of Output (GVO) instead of Net Traded Value (GVO + Imports – Exports).
Improved Computation Methodology: Elementary indices compiled using a short-term, chain-based method instead of a long-term formulation.
Improved Imputation Method: ‘Targeted Mean Imputation’ method replaces the ‘Carry-forward’ method for missing price data.
Linking Factor: Computed as the ratio of geometric means of the twelve-month indices of the old and new WPI series for financial year 2024-25. It will be available for All Commodities and Major Groups.
Additional Methodological Details:
Weights for Output PPI and Input PPI were derived using the Supply Table and Use Table, respectively, from the Supply & Use Table of National Accounts for 2022-23.
WPI, Output PPI, and Service PPI are compiled using Basic Price (excludes Net Tax and Trade & Transport Margin).
