The annual rate of inflation is 13.11% for the month of February 2022 (over February 2021) as compared to 4.83% in February 2021.
The month-over-month change in the WPI index for the month of February 2022 stood at 1.4 % as compared to January 2022.
The high rate of inflation in February 2022 is primarily due to the rise in prices of mineral oils, basic metals, chemicals, and chemical products, crude petroleum & natural gas, food articles and non-food articles, etc. as compared to the corresponding month of the previous year.
The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade released index numbers of wholesale price in India (Base Year: 2011-12) for the month of February 2022 (Provisional) and for the month of December 2021 (Final).
Who releases Wholesale Price Index in India?
The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) releases the wholesale price index in India with regards to the base year 2011-12.
Provisional figures of the Wholesale Price Index (WPI) are released on the 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country.
After 10 weeks, the index is finalized and final figures are released and then frozen thereafter.
WPI food index (Weight 24.38%)
The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group has increased from 166.3 in January 2022 to 166.4 in February 2022.
The rate of inflation based on the WPI Food Index decreased from 9.55% in January 2022 to 8.47% in February 2022.
The final index for the month of December 2021 (Base Year: 2011-12=100)
For the month of December 2021, the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 143.3 and 14.27% respectively.
Response Rate
The WPI for February 2022 has been compiled at a weighted response rate of 80.0 percent, while the final figure for December 2021 is based on the weighted response rate of 91.3 percent.
The Provisional figures of WPI will undergo revision as per the final revision policy of WPI.