Wholesale Price Index tracks changes in the price of goods in stages before the retail level i.e. goods that are sold in bulk and traded between organizations instead of consumers.
The index basket of the Wholesale Price Index covers commodities falling under the three major groups namely Primary Articles, Fuel and Power and Manufactured Products.
It is important to note that WPI does not cover services.
The wholesale Price Index is computed by the Office of the Economic Advisor (OEA), Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.
The base year of All-India WPI has been revised from 2004-05 to 2011-12 in 2017.
A major criticism of this index is that the general public does not buy products at wholesale prices.
|Read more: Consumer Price Index (CPI)|