Why it is news?
- According to official data release, wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02% in June, helped by a decline in prices of vegetables as well as fuel and power items.
What is WPI?
- A wholesale price index (WPI) is an index that measures and tracks the changes in the price of goods in the stages before the retail level ”“ that is, goods that are sold in bulk and traded between entities or businesses instead of consumers.
- Usually expressed as a ratio or percentage, the WPI shows the included goods’ average price change and is often seen as one indicator of a country’s level of inflation.
Source
The Hindu