Wholesale Price Index

Why in News?

• WPI inflation quickens to a record 15.9%.

About

• The wholesale price index is an index that measures and tracks the changes in the price of goods in the stages before the retail level

• WPI is used as a measure of inflation in some economies

• WPI includes three components viz

  • Manufactured products – 64.2%

  • Primary articles – 22.6%

  • Fuel and power – 13.1%

• Instead of the earlier 2004-05, base year for the WPI will be 2011-12.