New Delhi, June 2 -- India will launch the Producer Price Index (PPI) on June 15 and gradually phase out the Wholesale Price Index (WPI) over the next five years as part of a major overhaul of its inflation measurement framework, according to information shared by the Ministry of Commerce and Industry during a government briefing.

Under the transition plan, WPI and PPI will be released simultaneously for five years, after which WPI will be discontinued. The ministry said the move is in line with global best practices and recommendations of the International Monetary Fund (IMF), while giving users adequate time to shift from WPI to the new framework.

Unlike WPI, which measures only goods, PPI will cover both goods and services, making it...