The full form of WPI is:

Key Points

• Wholesale Price Index (WPI) is a measure of the average change in the prices of goods at the wholesale level.
• It is used to monitor price movements that reflect supply and demand in industry, manufacturing, and construction.
• The WPI is a key indicator of inflation and is used by the government and policymakers to frame economic policies.
• It includes the prices of goods at a wholesale level before they reach the retail level.

Additional Information

• The WPI is published by the Office of the Economic Adviser in the Ministry of Commerce and Industry, Government of India.
• It is released on a monthly basis and covers commodities under primary articles, fuel and power, and manufactured products.
• The base year for WPI is periodically updated to reflect the current economic scenario.
• It is different from the Consumer Price Index (CPI), which measures the average change in prices paid by consumers for retail goods and services.