New inflation Rate Series with 2012 as Base Year to be Released on Feb 12th
Published By : 11 Feb 2015 | Published By : QYRESEARCH
In order to show a better picture of the cost situation in India, government will release a new series of Consumer Price Index i.e. CPI having 2012 as base year for calculating the retail inflation rate. The first series has been collected for January that will be released on February 12, 2015.
The Central Statistics Office has revised the base year and methodology in recent times for calculating national account that provides a clear picture of the economy. After January 2016, inflation rates would be collected by using the real CPI of the revised series, as stated in an official statement.
The Central Statistics Office has been issuing Consumer Price Indices for Urban, Rural, and Combined, at state and UTs, and all across the nation, since January 2011. Now the Central Statistics Office is in the procedure of modifying the base year from 2010 = 100 to 2012 = 100, as stated in the release issued adding that with this revision, the gap in between the weight reference year and the cost reference year that is the base year has been reduced.
Apart from the revision of the base, a number of practical enhancements have been initiated in the revised series. Cost of Antyodaya Anna Yojanna or AAY have also been incorporated in addition to the Above Poverty Line (APL) and Below Poverty Line (BPL) costs being taken in the current series.