As per the wholesale price index (WPI) data released by the Indian government on Tuesday, May 14, the April WPI came at a 13-month high of 1.26% against the estimated 1%.

Furthermore, according to a CNBC-TV18 poll, the WPI is expected to range from 0.8 percent to 1.1 percent. Also, the WPI in March stood at 0.53 percent. While in January, the wholesale index stood at 0.27 percent.

In the year-ago period, India's annual WPI-based inflation declined to a 34-month low of 0.92%, largely due to the base effect, turning negative for the first time since July 2020.

The Wholesale Price Index or WPI measures the change in prices of goods wholesale businesses sell to and trade in bulk with other companies. Unlike the CPI which tracks prices of goods and services purchased by consumers, WPI tracks factory gate prices before retail prices.

The Ministry of Commerce and Industry releases WPI, wherein, under the index, commodities are divided across three groups, i.e., primary articles (which are further divided into food and non-food articles), fuel / power and other products which are manufactured. While, it is important to note that the base year for the index is 2011-12.