India Revises Base Year of Wholesale Price Index to 2022-23
The Ministry of Commerce and Industry in India has approved the revision of the base year for the Wholesale Price Index (WPI) from 2011-12 to 2022-23. The new series, which will include expanded coverage and renewable energy, is set for release on June 15. It will provide improved methodologies and broader price tracking capabilities. The change aligns with global best practices and will eventually phase out the WPI in favor of more comprehensive Producer Price Indices (PPIs).
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