Wholesale Price Index (WPI) Manufactured Products y/y reflects a change in wholesale prices for the group of manufactured goods, in the reported month compared to the same month of the previous year. The index is calculated monthly to measure inflation.
The common WPI is calculated for the basket consisting of three groups: Primary Articles, Fuel and Power, Manufactured Products. The latter group has the largest weight of 64.23. The products included in the price statistics sample cover no less than 80% of the production by Indian industrial enterprises.
The indicator is compiled by the Office of the Controller General of Accounts (CGA) which collects data from private and public sector manufacturing companies. The sample of enterprises, as well as the set of surveyed products, are updated from time to time in accordance with the changing market structure.
The index is considered a leading indicator of consumer inflation, because changes in wholesale prices lead to changes in retail prices received by end consumers. Also, various agencies may use the information on changes in wholesale prices for indexation and revision of payments. The rising index value indicates a near-term increase in retail prices and in consumer spending, which may have a positive impact on Indian rupee quotes.
The chart of the entire available history of the "India Wholesale Price Index - Manufactured Products 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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