Wholesale price index refers to a mix of agricultural and industrial goods at various stages of production and distribution, including import duties. The Laspeyres formula is generally used. Statistical concept and methodology: Wholesale price indexes are based on the prices at the first commercial transaction of commodities that are important in a country's output or consumption. Prices are farm-gate for agricultural commodities and ex-factory for industrial goods. Preference is given to indexes with the broadest coverage of the economy.