How many commodities does India's Wholesale Price Index (WPI) cover?
WPI, an economy-wide index, covers 435 commodities in India.
"Weights of the commodities are derived based on the value of quantities traded in the domestic market. It is currently the most comprehensive measure of economy-wide inflation available with high frequency,"
The weights assigned to foodgrains, vegetables and milk in the commodities basket of WPI (1993-94= 100) is 5.01 per cent, 1.46 per cent and 4.37 per cent, respectively.
Dearness Allowance is calculated on the basis of the average of preceding 12 months Consumer price index for Industrial Workers. It becomes due twice a year in January and July. Total 11 instalments of dearness allowances have become due from July 2002 to July 2007.
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