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English definition of “wholesale price index”

wholesale price index

noun [C, usually singular]     (abbreviation WPI) ECONOMICS
a list of some basic wholesale prices that shows how they change over time , used to measure inflation : Year-on-year inflation , measured by the wholesale price index , is currently 3%. → Compare consumer price index, retail price index
(Definition of wholesale price index noun from the Cambridge Business English Dictionary © Cambridge University Press)
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