Extracted Data Points

  • The competent authority approved the revision of the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23 in its meeting held on 25.05.2026.
  • The revised compilation methodology was approved by the Technical Advisory Committee on Statistics of Prices and Cost of Living (TAC).
  • The methodology was subsequently presented to the National Statistical Commission (NSC).
  • The Office of the Economic Adviser, DPIIT will release the revised Producer Price Index (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), Trial Input Producer Price Index (IPPI), and Service Producer Price Index (Service PPI) for seven services with base year 2022-23.
  • The seven services covered are: Banking, Securities Transaction, Insurance, Pension Fund Management, Railways, Air (Passenger), and Telecommunications.
  • The WPI will continue to be published alongside PPI for five years from the release date of the revised series, after which it will be discontinued.
  • The transition from WPI to PPI aligns with global best practices adopted by advanced economies and IMF recommendations.
  • The availability of both Output PPI and Input PPI provides better understanding of price movements.
  • Service PPI is compiled in the first phase based on data available from administrative sources/agencies.
  • Plans exist to add more services to the Service PPI scope in subsequent phases based on data availability.
  • WPI and Output PPI are compiled monthly and will be available on 15.06.2026 for the period from April 2023 to April 2026 (37 months).
  • Monthly Trial Input PPI (only for manufacturing sector) will be published on experimental basis from March 2026.
  • Service PPI will be released for Q4 2025-26 (provisional) with back series from Q1 2023-24 to Q3 2025-26.
  • Service PPI is compiled on quarterly basis.

Key Features of New WPI (2022-23) Series:

  • Number of items increased from 697 to 957
  • Inclusion of new and renewable energy under Electricity: solar and wind energy sources added under 'Electricity' group
  • Nuclear power has also been included
  • Consistent and integrated structure for monitoring energy prices: crude petroleum and natural gas moved from 'Primary Articles' to 'Fuel and Power'
  • Better methodology for weight determination: Gross Value of Output (GVO) used for weight preparation in WPI (2022-23)
  • Improved calculation methodology: primary indices compiled using short-term formulation with chain-based method instead of long-term formulation method
  • Better method for addressing missing price data: 'Targeted Mean Imputation' method used instead of 'Carry-Forward' method
  • Linking factor calculated as ratio of geometric mean of twelve monthly indices of old and new WPI series for financial year 2024-25
  • Linking factor will be available for all items and major groups

Methodology Details:

  • Weights for Output PPI and Input PPI obtained using supply table and use table respectively from National Accounts Supply and Use Table for year 2022-23
  • WPI, Output PPI and Service PPI compiled on basic price basis (excluding net taxes and trade & transport margin)
  • Input PPI compiled using purchaser's price as industries purchase inputs from market

Relevance: Relevant - Contains significant economic data points about inflation measurement methodology, index revisions, and new statistical series with specific numerical details and implementation timelines.