WPI registers increase in June but it is overall negative
The Office of the Economic Advisor, Department for Promotion of Industry and Internal Trade, has published the data for the Wholesale Price Index for the month of June. The index has registered a rise to (-) 1.81 percent from (-) 3.21 percent in May 2020.
Apart from this, the annual WPI Food Index also rose 3.05 percent in June as compared to 2.31 percent in May, 2020. However, the central government did not release the whole set of numbers for the WPI figures because of the inability to collect complete data, due to the ongoing COVID 19 pandemic situation.
What is Wholesale Price Index?
WPI is the price of a representative basket of wholesale goods in the country. It is published by the Office of the Economic Advisor, Ministry of Commerce and Industry. While calculating this index, the transactions at the first point of bulk sale in the domestic market are considered. The base year for WPI has been changed from 2004-05 to 2011-12 in the year 2017.
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Month: Current Affairs - July, 2020