What is Wholesale Price Index (WPI) ?
- The Wholesale Price Index (WPI) is the index used to measure the changes in the average price level of goods traded in wholesale market.
- Although some countries still use the WPIs as a measure of inflation, many countries, including the United States, use the producer price index (PPI) instead.
- The wholesale price indexes used in Indonesia were originally set up in 1996.
- The base year was reset in April of 2006 with a WPI value of 2000.
- Index values in Indonesia are commonly expressed as 2000 =100.
- The Indian Wholesale Price Index (WPI) was first published in 1902, and was used by policy makers until it was replaced by the Producer Price Index (PPI) in 1978.
- A total of 435 commodity prices make up the index.
- It is available on a weekly basis.
- It is generally taken as an indicator of the inflation rate in the Indian economy.
- As an example, the Indonesian Agriculture WPI in February of 2008 was 5140, but was expressed in the recent tables released by Statistics Indonesia as 257 (calculated as 5140/[2000/100]=257).