MoSPI to Release Updated WPI Series for Integration into New GDP Calculations

India's Ministry of Statistics and Programme Implementation (MoSPI) plans to release a new Wholesale Price Index (WPI) series with 2022-23 as the base year, which will be integrated into the updated GDP series. The revised series aims to improve methodology, data sources, and price deflation techniques. MoSPI Secretary Saurabh Garg stated that adopting the new WPI series will have minimal impact on GDP calculations and will incorporate advanced technology.