By IANS,
New Delhi: The government Monday is expected to take a decision on releasing inflation data on a monthly basis instead of week-wise as is done currently, a senior commerce ministry official said.
If approved, the new month-wise inflation data could come in effect December. The changes in the inflation data pattern are being brought on lines with global practices.
According to the official, the Cabinet Committee on Economic Affairs (CCEA) is likely to discuss the issue Monday after the commerce ministry suggested that bulk of the items tracked for the Wholesale Price Index (WPI) be on a monthly basis unlike the current practice.
The ministry made the suggestion on the recommendations of a working group headed by Planning Commission member Abhijit Sen.
Sen had also recommended starting the monthly Wholesale Price Index series taking 2004-05 as the base year instead of the 1993-94 that is considered currently for the week-wise inflation.