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New producer price index set to replace WPI over next five years

India is set to introduce a new Producer Price Index, covering output, input, and services. This move aims to provide a more accurate picture of inflation. The existing Wholesale Price Index will be phased out over five years. The new indices will use 2022-23 as the base year. This transition aligns with global standards and IMF recommendations.

3 Jun 2026 12:23 am