New WPI series expected in a couple of months: MoSPI secy

To be adopted for GDP estimates

- KULDEEP SINGH

A NEW WHOLESALE Price Index (WPI) series with 2022-23 as base year is expected to be released in a couple of months and will be adopted in the new Gross Domestic Product (GDP) series, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg told FE.

“As the base revision of WPI and Producer Price Index (PPI) is in progress, the existing WPI (Base:2011-12) is used as a deflator in concerned sectors of the revised GDP estimates. Once PPI becomes available, it will be adopted in the revised series of GDP (Base: 2022-23),” Garg said.

The MoSPI will release GDP data with a 2022-23 base year for FY23, FY24, FY25 and advance estimates for FY26 along with GDP data for Q3 FY26 and revised data for Q1 and Q2 under the new series on Friday. According to a FE poll of 10 economists, GDP grew around 7.35% in Q3.

The new series will incorporate methodological refinements, expanded data sources, and enhanced price deflation techniques.