India launches producer price index; wholesale inflation gauge to be phased out in five years

India has launched its first Producer Price Index (PPI) data for goods and services, marking a shift from the Wholesale Price Index (WPI) which will be phased out over five years. This move aligns with international practices and aims to provide a more accurate measure of price changes from a producer's perspective, aiding in National Accounts compilation.

By TOI BUSINESS DESK