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Govt to launch 2 new series of consumer price indices

Govt to launch 2 new series of consumer price indices
PTI
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First Published: Sun, Feb 06 2011. 11 25 AM IST
Updated: Sun, Feb 06 2011. 11 25 AM IST
New Delhi: The government will come up with two new series of monthly consumer price inflation this month -- rural and urban -- chief statistician T.C.A. Anant said.
“The two new series of consumer price index, one for rural and other for urban households, would be launched by this month,” Anant told PTI.
The two new index series would be later clubbed into a national consumer price index (CPI-N), which would become the basis for fixing dearness allowance (DA) and pay structure, an official closely involved with development said.
At present, the pay commissions and government use consumer price index for industrial workers (CPI-IW) for determining dearness allowance and fixing pay structures.
The national CPI, which has been made more representative by updating and expanding the basket, will capture all aspects of economy in a single window, the official said.
The government has planned to make CPI-National applicable for the seventh pay commission.
The data for CPI-Urban would be collected by the National Sample Survey Organisation (NSSO) whereas for CPI-Rural the ministry of statistics and programme implementation has made arrangements with the postal department for collection of price data from villages.
There are four CPI inflation series -- CPI for industrial workers, CPI for agricultural labourers, CPI for rural labourers and CPI for urban non-manual employees.
Besides these four, wholesale prices are measured by WPI index.
“The details of this launch would be divulged at a press meet being organized on Monday after the inauguration of four- day long Commonwealth Statisticians Conference here,” he said.
Retail inflation for items consumed by industrial workers increased to 9.47% in December 2010 from 8.33% in the previous month, mainly due to dearer food prices.
The rate of price rise, particularly that of food, has been a concern for both the government and the common man.
The wholesale price index based inflation rose to 8.43% in December from 7.48% in the previous month. WPI food inflation rose to 17.05% for the week ended 22 January, on account of escalating vegetable prices, particularly, onion.
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First Published: Sun, Feb 06 2011. 11 25 AM IST