Is the WPI Inflation Released Every Week Or Every Month?

The Wholesale Price Index (WPI) represents changes in the average prices of items supplied in bulk and transacted between businesses or corporations rather than goods purchased by consumers. There are certain drawbacks to utilising WPI as an inflation measure because it does not take into account the price of services and does not reflect the country's consumer price situation.

The Ministry of Commerce and Industry's Economic Advisor publishes the WPI. As the sole indicator for short-term policy intervention, WPI helps in measuring the macroeconomic and microeconomic conditions of the economy.

In India, the WPI data is provided on a monthly basis only. One should note, in April 2017, the Govt. changed the base year for the WPI from 2004-05 to 2011-12.

The government uses WPI-based inflation to plan fiscal, trade, and other economic policies. Also, it is used as an indexing tool by business groups, policymakers, accountants, and statisticians to develop price adjustment clauses.

WPI tracks variations in the cost of items that reflect supply and demand in the manufacturing, construction, and industrial sectors. WPI provides estimates of inflation at the wholesale transaction level for the economy overall. It also helps in timely intervention by the government to monitor inflation before the price hike spills over to retail prices.

According to official statistics issued by the Ministry of Commerce & Industry on Wednesday, June 14, 2023, WPI inflation declined to 3-year low of (-) 3.48% in May.