FINWIRES · TerminalLIVE
FINWIRES

India to Launch Producer Price Indices to Replace Wholesale Price Index

By

India is poised to launch Producer Price Indices (PPI) that will cover output, input, and services, aimed at providing a more accurate picture of inflation from June 15, according to a release by the Ministry of Commerce & Industry on Tuesday.

The government aims to replace the Wholesale Price Index, which is currently used to measure producer-level inflation, with the PPI over the next five years. Till then, both WPI and PPI data will be released simultaneously, after which WPI will be discontinued.

The base year for WPI has also been revised to 2022-23 from 2011-12, starting from the upcoming data release on June 15.

The PPI data will not be released on a consolidated basis but through three indices - Input PPI, Output PPI, and Services PPI. The Services PPI will be released quarterly, while the other two will be published every month.

"The transition from WPI to PPI is in alignment with the global best practices adopted by advanced economies and the recommendations of the International Monetary Fund (IMF)," the commerce ministry's statement said.

Related Articles

International

ANZ Lifts New Zealand Farmgate Milk Price Forecast for Upcoming Season

ANZ lifted its New Zealand farmgate milk price forecast for the 2026-2027 season to NZ$9.20 per kilogram of milk solids from NZ$8.70, with good dairy commodity prices and a favorable exchange rate, according to a report released Wednesday.Dairy markets are in a relatively good place at the onset of the new season following recent volatility, with product prices starting to stabilize near current levels, the report said.However, dairy prices are anticipated to weaken over the next few months due to strong milk production in all major exporters.Input costs are expected to be higher in the next season following two years of stable costs of production as a result of the conflict in the Middle East and the closure of the Strait of Hormuz, per the report.

^NZ50
International

Vietnam's Annual Inflation Rate Accelerates to 5.60% in May

Vietnam's annual inflation rate rose to 5.60% in May from 5.46% in the prior month, according to data from the General Statistics Office published on Wednesday.Monthly, the CPI edged up 0.29%, the data showed.The core inflation rate rose to 4.67% in May from a year earlier and increased 0.34% from the previous month.

^HNX^HOSE
International

Vietnam's Retail Sales Rise 11.8% in May

Vietnam's retail sales jumped 11.8% annually to 647.1 trillion Vietnamese dong in May, the National Statistics Office of Vietnam said Wednesday.The pace of growth eased from 12.1% in April and missed analysts' forecast of 13%, according to Trading Economics data.For the first five months of the year, the country's retail sales and consumer service revenue increased 11.2% year over year to about 3,185 trillion dong, with real growth of 6.1% after inflation adjustment.

^HNX^HOSE