India Introduces Revised WPI Series and Launches Producer Price Indices
| Category | Key Details |
|---|---|
| Introduction | India revised the Wholesale Price Index (WPI) with a new 2022-23 base year, replacing the 2011-12 series. Simultaneously launched Producer Price Indices (PPIs)--Output PPI (OPPI), Input PPI (IPPI), and Service PPIs. |
| Methodological Improvements | - Short-term formulation for elementary indices. - Targeted Mean Imputation replaces Carry Forward for missing data. |
| New PPIs | - OPPI: Tracks prices received by producers. - IPPI (Trial): Tracks input prices (manufacturing sector). - Service PPIs: Cover 7 sectors (banking, insurance, telecom, railways, etc.). |