The government last week introduced changes to two important indicators of the country’s economic situation — the Index of Industrial Production (IIP) and the Wholesale Price Index (WPI) . The old series had shown a contraction of 1.2% in February, in contrast. The new WPI figures show that wholesale inflation in 2016-17 was -1.1% as opposed to the much more uncomfortable 3.7% shown by the old numbers. The new WPI series does not include indirect taxes in its calculation. will also come out with a composite food index, which combines the ‘food articles’ segment of the primary articles category and the ‘food products’ segment under the manufactured products category.

Source: The Hindu May 17, 2017 18:36 UTC