Release of Wholesale Price Index (WPI) on a monthly basis

Release of Wholesale Price Index (WPI) on a monthly basis

The Cabinet Committee on Economic Affairs today gave its approval to the following:

(i) Department of Industrial Policy & Promotion, to release the current series of Wholesale Price Index (base 1993-94) on a monthly basis, instead of the current practice of releasing the index on a weekly basis. Collection of price data for manufactured products will accordingly have a monthly frequency consistent with the practice of release of WPI.

(ii) Compilation of Weekly Price Index for Primary Articles and commodities in Fuel, Power, Light and Lubricant Group.

The monthly release of WPI is a widely followed international practice. The approval is expected to improve the quality of the Wholesale Price Index.

A Weekly Price Index for primary articles and commodities in Fuel, Power, Light and Lubricant Group would facilitate weekly monitoring of the prices of agricultural commodities and petroleum products which are sensitive in nature.