Wholesale Price Index (WPI)

Price movement of selected groups in WPI basket in April indicates deflation in food basket.

Published monthly by the Office of Economic Advisor. Updated until April 2020. (Published on May 15, 2020) 
Note: WPI Food Index consists of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products. Core WPI represents non-food manufacturing.

Recent Data Trend

India's Wholesale price Index for April, 2020 (calculated by the Office of Economic Advisor) has been published for a select group of indicators/commodities in the WPI basket. This is on account of the nation-wide lockdown imposed by the government. The general wholesale price index has not been published for April, 2020. 
Due to higher base effect, inflation within the food commodities group moderated to 2.6% YoY in April 2020 compared to 4.9% YoY in March 2020. Even non-food product prices contracted by 1.2% YoY in April, 2020. 
With a significant reduction in the international crude oil prices, the fuel and power component has seen a significant contraction (-10.1% YoY in April), lowest in the last 45months. 
On account of lower international crude oil prices and weak demand conditions we can expect wholesale price index to remain low in the coming months. 

Brief Overview

Wholesale Price Index (WPI) represents the price of representative commodity basket of 697 items at the wholesale level, i.e. goods traded in bulk and between organizations, not the end consumers. It is a measure of inflation at the wholesale level. The significant components of WPI include Manufactured Products, Primary Articles, Fuel, and Power in the decreasing order of weight-age to the stated elements. The purpose of the WPI is to monitor price movements that reflect supply and demand in industry, manufacturing, and construction. The WPI index helps in analyzing both macroeconomic and microeconomic conditions.

The WPI inflation has remained in the negative zone for the entire year of 2015 owing to the weak global prices of oil. The wholesale prices fell by 5.1% in August 2015, the highest fall of all time.

The  Office of the  Economic  Adviser in the  Department of  Industrial  Policy and Promotion,  Ministry of  Commerce  &  Industry is responsible for compiling  WPI and releasing it. Since 1947 the index is being regularly published. The latest series of WPI uses the base year as 2011-12. For more information, please visit the official website.

Wholesale Price Index, Sub-group: Manufacturing

Wholesale Price Index, Sub-group: Primary Articles

Wholesale Price Index, Sub-group: Fuel and Power

Next Release Date:May 15, 2020

Wholesale Price Index-Quarterly

Wholesale Price Index-Annual

Note: Here year represent fiscal year. For example 2010 refers to the period April 2010-March 2011, and so on. 
The entire series 1970-2017 is on the same base year (2011-12=100). The data post-2012 is in the base year 2011-12. For data, before 2012, we have used yearly growth rates obtained from a series of the different base year. For example, the index of 2010 (on 2011-12 base year) has been obtained preserving its growth rate (on 2004-05 base year) and using 2011-12 index value as 100 and dividing it by the growth rate for 2010 obtained earlier.