Friday, January 23, 2015

New series of Consumer Price Index from next month

Centre to release new series of Consumer Price Index next month

For presenting a more accurate and realistic price situation, the government will release next month a new series of Consumer Price Index (CPI) with 2012 as base year for computing the retail inflation rate.
The first series (revised) would be compiled for January, which will be released on February 12.
From January, 2016, onwards, inflation rates would be compiled using the actual CPI of the revised series, according to an official release “Now the CSO is in the process of revising the Base Year from 2010=100 to 2012=100,” it said adding that with this (base) revision, the gap between Price Reference Year (Base Year) and the Weight Reference Year has been minimised. Apart from base revision, a number of methodological improvements have been introduced in the revised series. — PTI

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