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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.
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economictimes.indiatimes.com
India to unveil broader gauge for inflation in data revamp
India is introducing a Producer Price Index for the first time. This new measure will track prices received by producers of goods and services. It aims to provide a more…
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thehindubusinessline.com
India to launch Producer Price Index for measuring inflation in data revamp
The new index, to be unveiled by the Ministry of Commerce and Industry Tuesday, will sit alongside the Wholesale Price Index, which is India’s longstanding measure of…
