On September 10, 2024, the Department of Economics and Statistics (DES) in Nagaland released its first report on the Wholesale Price Index (WPI) for the state. This significant milestone was marked by a ceremony at the Nagaland Civil Secretariat, attended by key officials including Akunu S Meyase, Secretary, Economics & Statistics, and Neidilhou Keditsu, Director, Economics & Statistics.
The report is a crucial step in providing statistical data on price movements, which is essential for policy interventions. The survey was conducted under the Support for Statistical Strengthening Scheme Sub-Scheme of the Ministry of Statistics and Programme Implementation. The primary aim is to offer insights into the economic trends within Nagaland, helping policymakers make informed decisions.
The Wholesale Price Index for Nagaland has been calculated with 2012 as the base year. The index is divided into three main groups: Primary Articles, Fuel & Power, and Manufactured Products. As per the report, the WPI general Index for Nagaland stands at 164.56 basis points. This data will help in understanding the inflationary trends and economic health of the state.
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During the release ceremony, Akunu S Meyase congratulated the department for their hard work and urged officials to continue striving for better data quality. She emphasised the importance of accurate and reliable data for effective policy-making.
The report’s construction involved a detailed analysis of various economic sectors. By categorising the data into Primary Articles, Fuel & Power, and Manufactured Products, the DES aims to provide a comprehensive view of the wholesale market. This data will be invaluable for businesses, policymakers, and researchers seeking to understand the economic landscape of Nagaland.
