About WPI

• Wholesale Price Index measures and tracks the changes in the price of goods in the stages before the retail level. It provides estimates of inflation at the wholesale transaction level for the economy as a whole. 
• WPI basket does not cover services.
• It is released by the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry. 
• The base year is 2011-2012. 
• The index basket consists of commodities under 3 main categories in decreasing order of weightage: Manufactured products, Primary Articles and Fuel and Power. 

Why in News?

• Inflation in wholesale prices hit a five-month high of 12.54% in October, rising significantly from 10.66% in September, thanks to a broad-based surge in prices of most commodities led by fuel and power, vegetables and oils as well as chemicals.

Reference:

1. https://www.thehindu.com/business/Economy/wpi-inflation-spikes-to-1254-per-cent-in-october/article37499318.ece