Wholesale Inflation Rises to 9.68% in May Amid Higher Fuel, Food, and Power Prices Linked to US-Iran Tensions

The Ministry of Commerce and Industry announced on Monday the release of the latest Wholesale Price Index (WPI) data, incorporating a revised base year of 2022-23. This new series replaces the previous base year of 2011-12.

The WPI is a critical economic indicator that measures the average change over time in the selling prices received by domestic producers for their output. The revision aims to provide more accurate insights into price trends and inflationary pressures affecting various sectors of the economy.

This update comes as part of broader efforts by the government to enhance economic data accuracy and relevance in response to evolving market conditions. The new base year reflects changes in consumption patterns, production, and pricing dynamics in the Indian economy. The latest data is expected to assist policymakers, economists, and businesses in making informed decisions.