New WPI series with base year 2022-23 released; Producer Price Indices launched
Key facts
- DPIIT's Office of the Economic Adviser released a new WPI series with base year 2022-23.
- It replaces the 2011-12 series. Items rose from 697 to 957.
- Output, Input and Service Producer Price Indices (PPI) were also released.
- WPI will run for five more years alongside PPI, then be discontinued.
Why it matters
[Economy] India is moving from WPI to PPI, in line with IMF advice. Solar, wind and nuclear power are now in the basket. Base-year questions are common.