New WPI Series Launched

The Indian Government on 14 Sept 2010 launched a new series of Wholesale Price Index (WPI) with 2004-05 as base year. Before the government adopted the new WPI, 1993-94 was used as base year to calculate WPI. As against 435 items the new WPI series would have 676 items. Consumer items like ice cream, mineral water, microwave oven, washing machine, gold, silver etc would be present in the new series. Readymade food, computer stationery, refrigerators, dish antenna, VCD, would also be reflected in the new series. As against the existing 98 items the primary article group of the new WPI would have 102 items. The number of items in fuel and power category would remain unchanged at 19. Under the manufactured product commodity category there would be 555 items as against 318 items. The new series highlighted the raise in weight of manufactured product from 63.75% to 64.97%. The weight of the primary article group that includes food was reduced to 20.12% from 22.02%.