The 18-member working group is for base revision of the current series of Wholesale Price Index (WPI) from base 2011-12 to 2022-23.
- The WPI series has undergone seven revisions in 1952-53, 1961-62, 1970-71, 1981-82, 1993-94 and 2004-05, 2011-12 so far.
Terms of Reference of the Working Group
- Suggest changes in the commodity basket of WPI and PPI: Based on structural changes in the economy with base year 2022-23.
- Computational methodology: To decide the computational methodology to be adopted for WPI / PPI and suggest improvements for better reliability.
- Producer Price Index (PPI): Examine methodology for compilation of PPI and suggest improvements.
- Recommend a roadmap for switch over from WPI to PPI
- Others: Review and suggest changes in the existing system of price collection, Computation methodology of linking factor
- Linking factor helps maintain continuity in the time series data and aids comparison with the series of WPI
