Economy

New WPI & PPI Series (Base Year 2022–23)

Organization

• Department for Promotion of Industry and Internal Trade (DPIIT)
• Ministry of Commerce & Industry

Highlights

• New Wholesale Price Index (WPI) introduced.
• Base Year changed from 2011–12 → 2022–23
• Producer Price Index (PPI) introduced for the first time.

PPI Includes

• Output Producer Price Index (OPPI)
• Input Producer Price Index (IPPI) (Trial)
• Service PPI

Seven Service Sectors

• Banking
• Insurance
• Railways
• Telecom
• Air Passenger Services
• Securities Transactions
• Pension Fund Management

Important Exam Point

• WPI and PPI will run together for 5 years
• Afterwards PPI will replace WPI