New Delhi, June 2 -- The government will this month roll out a revised Wholesale Price Index (WPI) with a new 2022-23 base year and introduce a new set of Producer Price Indices (PPIs), marking a major overhaul of how producer inflation is measured in India. The changes expand the commodity basket, update the weighting and calculation methodology, and align India's inflation framework more closely with global practices.

According to a statement by the department for promotion of industry and internal trade (DPIIT) on Tuesday, the revised WPI series with base year 2022-23 will replace the 2011-12 series. The Office of the Economic Adviser will release the new series on 15 June.

Alongside the revised WPI, the government will also release ...