Wholesale Price Index (WPI) for June 2023 Shows a Decline of 4.12%
The provisional Wholesale Price Index (WPI) for June 2023 in India has recorded a decline of 4.12% compared to the previous year. This decrease in the WPI is primarily attributed to falling prices in various sectors, including mineral oils, food products, basic metals, crude petroleum & natural gas, and textiles.
| Category | Weight (%) | Apr-23 (F) | May-23 (P) | June-23 (P) |
|---|---|---|---|---|
| All Commodities | 100.0 | 151.1 | -0.79 | 149.0 |
| I. Primary Articles | 22.62 | 177.8 | 1.89 | 176.3 |
| II. Fuel & Power | 13.15 | 152.7 | 0.99 | 146.0 |
| III. Manufactured Products | 64.23 | 141.4 | -2.28 | 140.0 |
| Food Index | 24.38 | 174.0 | 0.40 | 175.2 |
The index for primary articles increased by 0.57% to 176.3 (provisional) in June 2023 compared to May 2023. The prices of food articles increased by 2.10%, while non-food articles (-2.40%), crude petroleum and natural gas (-3.01%), and minerals (-4.32%) witnessed a decline in prices.
The index for fuel and power declined by 1.75% to 146.0 (provisional) in June 2023 compared to May 2023. Coal prices increased by 2.46%, but mineral oils (-2.30%) and electricity (-2.96%) experienced a decrease in prices.
The index for manufactured products declined by 0.50% to 140.0 (provisional) in June 2023 compared to May 2023. Among the 22 NIC two-digit groups for manufactured products, 11 groups saw a decrease in prices, including basic metals, chemical and chemical products, textiles, rubber & plastic products, and paper & paper products.
However, some groups such as tobacco products, computer, electronic and optical products, leather and related products, motor vehicles, trailers and semi-trailers, wood and products of wood and cork, printing & reproduction of recorded media, and other non-metallic mineral products witnessed an increase in prices.
The WPI Food Index, which includes food articles from the primary articles group and food products from the manufactured products group, increased from 172.8 in May 2023 to 175.2 in June 2023. The annual rate of inflation based on the WPI Food Index changed from -1.59% in May 2023 to -1.24% in June 2023.
| Wholesale Price Index (WPI) | Consumer Price Index (CPI) | |
|---|---|---|
| Definition | Measures changes in prices of goods sold in bulk by wholesalers | Measures changes in prices of goods and services bought by consumers |
| Published by | Office of Economic Adviser, Ministry of Commerce and Industry | National Statistical Office (NSO) |
| Widely used | Yes | Yes |
| Major criticism | General public does not buy products at wholesale price | – |
| Base Year | Revised from 2004-05 to 2011-12 in 2017 | 2012 |
| Types | – | CPI for Industrial Workers (IW) |
| CPI for Agricultural Labourer (AL) | ||
| CPI for Rural Labourer (RL) | ||
| CPI (Rural/Urban/Combined) | ||
| Compilation Authority | – | Labour Bureau (Ministry of Labour and Employment) |
| National Statistical Office (Ministry of Statistics and Programme Implementation) | ||
| Recent Changes/Revisions | – | New series of CPI-IW with base year 2016 released by Ministry of Labour and Employment |
| Used by | – | Monetary Policy Committee (MPC) for controlling inflation |
| Reserve Bank of India (RBI) as key measure of inflation since April 2014 |
Find More News on Economy Here
In India, Children's Day or Bal Diwas is celebrated on November 14 every year to…
India had a 38% reduction in Tuberculosis deaths in comparison to 35% globally. This has…
Indian boxing celebrated a landmark moment at the 2026 Youth Olympic Games in Dakar, Senegal,…
Another milestone has been reached with Japan placing the first orders for electronically powered train…
Maruthi R. Akella, an aerospace scientist and control systems engineer from the University of Texas…
President Droupadi Murmu distributed the National Sports Awards 2025 on 13th November 2026. A total…