NEW DELHI, June 2: The government will gradually phase out the Wholesale Price Index (WPI) and introduce a detailed Producer Price Index (PPI) covering output, input and services prices, in a bid to offer a more realistic assessment of inflationary trends in the economy.
Addressing media on the subject, Praveen Mahto, Principal Economic Adviser in the Commerce and Industry Ministry, also said that the Department for Promotion of Industry and Internal Trade (DPIIT) will release the revised series of WPI with new base year 2022-23 on June 15, which would replace the existing series with base year 2011-12.
In addition, the department would release a new series of Output Producer Price Index (OPPI), Trial Input Producer Price Index (IPPI), and Service Producer Price Index (Service PPI) of seven services – Banking, Securities Transaction, Insurance, Management of Pension Funds, Railways, Air (Passenger), and Telecom with base year 2022-23 on June 15. (Agencies)
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