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Wholesale Price Index (WPI)
The WPI tracks the prices of goods traded in bulk between businesses, such as metals, fuels, chemicals and farm produce. Unlike CPI, it excludes services and retail margins.
Why It Matters
WPI often moves before CPI, so it can be an early warning of price pressures heading to consumers.
In India
When oil prices surged in 2026, WPI fuel inflation jumped before consumer prices did, because pump prices were held steady for months.
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