New WPI series suggests higher core inflation rate in past six months

The govt unveiled the revised WPI on May 12 according to the 2011-12 base year

The Ministry of Commerce and Industry unveiled the revised Wholesale Price Index (WPI) on May 12 according to the 2011-12 base year. According to this release, WPI inflation for April is at 3.9 per cent, which is 144 basis points (bps) lower than the March inflation rate. The decline is mainly due to a 500 bps fall in fuel inflation and an over 200 bps decline in the inflation rate of primary articles. The new series records WPI inflation in FY17 at 1.7 per cent, 200 bps lower than the number according to the old (2004-05) series. 

The revised series