Index Numbers of Wholesale Price in India for the Month of December, 2025 (Base Year: 2011-12)

1. At a Glance

WPI measures the average change in prices of goods traded in bulk in the wholesale market; compiled and released monthly by the Office of the Economic Adviser, DPIIT, Ministry of Commerce & Industry, with current base year 2011-12 [S1][S3].
For UPSC: a recurring Prelims data point and GS-III anchor for questions on inflation, monetary policy, and divergence with CPI.

PIB release dated 14 January 2026 placed All-India WPI annual inflation at 0.83% (provisional) for December 2025 vs (-)0.32% in Nov-25 and (-)1.02% in Oct-25 — the first positive print after months of deflation/near-zero readings [S1].
Month-on-month WPI rose 0.71% over November 2025 [S2].

WPI series in India dates back to week ended 10 January 1942 (base year 1939). Successive base revisions: 1952-53 → 1961-62 → 1970-71 → 1981-82 → 1993-94 → 2004-05 → 2011-12 (current) [S3].
Current 2011-12 series introduced in May 2017; aligned base with GDP and IIP; excluded indirect taxes from price quotations to bring WPI closer to Producer Price Index (PPI) concept [S3].
A Working Group has been constituted to revise the series further to base 2022-23 [S4].

Issuing body: Office of the Economic Adviser, Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry [S1].
Base year: 2011-12 = 100 [S1].
Total items: 697 in 2011-12 series (Primary 117, Fuel & Power 16, Manufactured 564) [S3].
Major group weights (as per release table): Primary Articles 22.62%, Fuel & Power 13.15%, Manufactured Products 64.23%; Food Index (composite) ~24.4% [S1].
Release lag: ~14th of every month; provisional figures finalised after 10 weeks (revision policy) [S3].
December 2025 indices (provisional): All Commodities 157.0 (inflation 0.83%); Primary Articles 194.2 (0.21%); other components reported in release [S1].
Drivers of Dec-25 positive print: prices of other manufacturing, minerals, manufacture of machinery & equipment, food products and textiles [S1].

Economic: Positive WPI after a deflationary patch signals revival in producer-level pricing power; relevant for GDP deflator computation and corporate margin analysis [S1].
Monetary policy: WPI is not the RBI's nominal anchor since 2016 — CPI-Combined (4% ± 2%) is. However, WPI divergence informs core inflation and supply-side assessments [S3].
Statistical/Methodological: 2011-12 series excludes indirect taxes → conceptually closer to PPI; weights are based on net traded value; uses Laspeyres formula [S3].
Administrative/Federalism: Item-basket revisions handled via Technical Review Committee under DPIIT for dynamic substitution of dormant sources [S3].

Dec 2025 (provisional): WPI inflation 0.83% [S1].
Nov 2025 (provisional): (-)0.32%; Oct 2025 (final): (-)1.02% [S1].
Working Group constituted to migrate WPI base from 2011-12 → 2022-23 [S4].

WPI base year currently 2011-12; CPI base year 2012 [S1][S3].
WPI released by Office of Economic Adviser, DPIIT — not by MoSPI (MoSPI releases CPI & IIP) [S1][S3].
WPI excludes services; CPI includes services [S3].
Current WPI basket has 697 items with Manufactured Products weight 64.23% [S1][S3].
WPI inflation for December 2025 = 0.83% [S1].
Food Index is a composite from Primary Articles (food) + Manufactured (food products) [S1].
2011-12 series excludes indirect taxes unlike 2004-05 series [S3].
Provisional figures are revised after 10 weeks [S3].
WPI shifted from base 2004-05 → 2011-12 in May 2017 [S3].
RBI's monetary policy targets CPI-C, not WPI, since 2016 [S3].

GS-III: Indian Economy — Growth, Development, Inflation, Monetary Policy.
Syllabus: "Indian Economy and issues relating to planning, mobilization of resources, growth" and "Inclusive growth and issues arising from it."
Probable stems: 1. "Examine the rationale for using CPI rather than WPI as the nominal anchor for monetary policy in India." 2. "Discuss the methodological improvements in the 2011-12 WPI series and the case for further revision to base 2022-23." 3. "What does the divergence between WPI and CPI inflation reveal about transmission of price shocks in the Indian economy?"

Confusing WPI issuer — it is DPIIT (Commerce Ministry), not MoSPI (which issues CPI/IIP) [S1].
Mistaking base year — WPI is 2011-12, CPI is 2012, IIP is 2011-12.
Assuming WPI is the RBI's policy anchor — it is CPI-C since 2016.
Treating WPI as inclusive of services — it covers only goods.
Confusing the provisional vs final revision cycle (10 weeks).

[S1] Index Numbers of Wholesale Price in India for the Month of December, 2025 — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2214426 — (tier 1)
[S2] PIB search result confirming MoM 0.71% & Dec-25 print — https://www.pib.gov.in/PressReleasePage.aspx?PRID=2214426&reg=3&lang=1 — (tier 1)
[S3] Government revises the base year of All-India WPI from 2004-05 to 2011-12 — https://www.pib.gov.in/newsite/PrintRelease.aspx?relid=169640&reg=3&lang=2 — (tier 1)
[S4] Constitution of Working Group for revision of current WPI series (Base 2011-12 → 2022-23) — https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2089549 — (tier 1)
[S5] MoSPI — Month-wise WPI All Commodities and Food Index (Base 2011-12) — https://www.mospi.gov.in/month-wise-wholesale-price-index-wpi-all-commodities-and-food-index-base-year-2011-12 — (tier 1)