New WPI series with 2022-23 base year, Producer Price Indices to launch June 15
Synopsis
India is overhauling how it measures producer-side inflation. The WPI base year jumps from 2011-12 to 2022-23, the basket widens to 957 items, and a new Producer Price Index — including a Service PPI for seven sectors — launches on 15 June. WPI gets a five-year sunset clause, signalling a definitive pivot to global PPI norms.
Key Takeaways
The Centre approved revising the WPI base year from 2011-12 to 2022-23 , effective 15 June 2026 .
A new Output PPI , Trial Input PPI and Service PPI covering seven services will launch alongside.
WPI basket items increased from 697 to 957 ; Solar, Wind and Nuclear Electricity added.
Crude Petroleum and Natural Gas moved from 'Primary Articles' to 'Fuel and Power'.
WPI will run for five more years in parallel with PPI before being discontinued, aligned with IMF recommendations.
Back series data from April 2023 to April 2026 (37 months) will be released on launch day.
The Centre on Tuesday approved a revision of the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23 and cleared the rollout of Producer Price Indices (PPIs), with the new series set to be released on 15 June 2026. The overhaul, announced by the Ministry of Commerce and Industry, marks India's most significant producer-side inflation measurement reset in over a decade.
Key Developments
The revised WPI series with base year 2022-23 will replace the existing 2011-12 series from 15 June. Alongside, the government will release the new Output Producer Price Index (OPPI), a Trial Input Producer Price Index (IPPI), and a Service PPI covering seven services — Banking, Securities Transaction, Insurance, Management of Pension Funds, Railways, Air (Passenger) and Telecom — all with the 2022-23 base year.
What Changes in the New WPI Basket
The total number of items has been expanded from 697 to 957. New energy sources including Solar and Wind have been added under the 'Electricity' group, with Nuclear Electricity also entering the basket for the first time. Crude Petroleum and Natural Gas has been moved from 'Primary Articles' to the 'Fuel and Power' segment, aligning it with coal, electricity and petroleum products.
According to the ministry statement, the new series incorporates an improved methodology for deriving weights, refined computation techniques, and a better method for imputing missing price data.
Transition from WPI to PPI
The shift is in line with global best practices followed by advanced economies and recommendations of the International Monetary Fund (IMF). Given the wide use of WPI in price escalation clauses across contracts, the index will continue to be published for five years from the release of the revised series, alongside the PPI, before being discontinued. The dual run is intended to give users sufficient time to migrate to PPI.
Why It Matters
The availability of both Output PPI and Input PPI is expected to offer a sharper read on how input-cost inflation passes through to output prices within industries — a granularity the current WPI does not deliver. The Service PPI, launching in its first phase with seven services, is to be expanded in subsequent phases as administrative data becomes available.
What's Next
The WPI and Output PPI will be compiled monthly, with May 2026 (Provisional) data and a back series from April 2023 to April 2026 — covering 37 months — to be released on 15 June. Analysts will closely watch the recalibrated weights and broader basket for any shift in the headline inflation print.
Point of View
Currently limited to seven sectors, gets expanded fast enough to capture the services-led economy it is meant to mirror. The five-year WPI sunset is sensible, but contract markets and escalation-clause negotiations will need clear guidance well before the cliff. Watch how the recalibrated weights — especially the energy reshuffle — alter the headline print; a quieter WPI is not the same as quieter inflation.
NationPress
7 Aug 2026
Frequently Asked Questions
What is the new WPI series being launched on 15 June 2026?
It is a revised Wholesale Price Index with the base year updated from 2011-12 to 2022-23, replacing the existing series. The new basket has 957 items, up from 697, with new energy sources like Solar, Wind and Nuclear Electricity added.
What is the Producer Price Index (PPI) and why is India launching it?
The PPI measures price changes from the producer's perspective, separately tracking output and input prices. India is launching it to align with global best practices followed by advanced economies and IMF recommendations, offering a sharper read on industrial price pass-through than WPI.
Will the old WPI series be discontinued immediately?
No. The WPI will continue to be published for five years from 15 June 2026 alongside the new PPI, before being discontinued. This transition window is meant to help users of price escalation clauses migrate to PPI.
Which services are covered under the new Service PPI?
The Service PPI in its first phase covers seven services: Banking, Securities Transaction, Insurance, Management of Pension Funds, Railways, Air (Passenger) and Telecom. More services will be added in later phases as administrative data becomes available.
What back-series data will be available at launch?
The WPI and Output PPI will be compiled monthly, with May 2026 (Provisional) data and a back series spanning April 2023 to April 2026 — 37 months in total — released on 15 June.
