India Wholesale Price Index - Fuel & Energy y/y
The Wholesale Price Index (WPI) Fuel & Energy y/y reflects changes in wholesale prices for the specified groups of goods, in the current month compared to the same month in the previous year. Statistics reflect the prices of coal, mineral oils and electricity. The sales volumes in the base year serve as weighing figures (= index weights).
The data is provided by the Ministry of Petroleum and Natural Gas, as well as by major oil refining corporations and 49 Indian power plants. The index is calculated relative to the base period, which is currently set to 2011-2012.
The index reflects actual paid prices (not listed, basic or average prices) which the buyer pays during the transaction. Different weights are given to the index components, reflecting the importance of products for the Indian economy. The composition and weights of the components are reviewed from time to time to reflect the actual structure of consumption.
The index is considered a leading indicator of consumer inflation, as changes in wholesale prices for fuel and energy lead to changes in retail prices received by end consumers and may influence production costs. The rising index value indicates an increase in consumer spending, which may have a positive impact on INR exchange rates.
The chart of the entire available history of the "India Wholesale Price Index - Fuel & Energy y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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