India Launches New WPI Series With 2022-23 Base Year, May Inflation At 9.68%

The Indian government unveiled a revised wholesale price index series with 2022-23 as the new base year, alongside introducing producer price indices. The revamp aims to better reflect the evolving economic structure and provide more accurate inflation tracking. Wholesale inflation for May stood at 9.68%, reflecting persistent price pressures in the economy. The new series will offer more granular data for policymakers and businesses.