By IANS,
New Delhi : Consumer prices in India rose six percent in January under the new barometer of inflation rolled out Friday to better monitor price movement in different parts of the country.
Under the new series, there are three separate indices – consumer price index (CPI) for rural, urban and combined (rural plus urban).
The consumer price index for rural areas rose seven percent, for urban four percent and for combined six percent in January, according to data released by the ministry of statistics here Friday.
The new series takes its base year from 2010 prices.
The new series of indices will be announced monthly, generally on the 18th of every month.
“Present CPI numbers do not encompass all the segments of the population of the country and as such they do not reflect the true picture of the price behaviour. It is, therefore, necessary to compile a CPI which takes into account the consumption patterns of all segment of the population,” said a statement from the statistics and programme implementation ministry recently.
India’s annual inflation based on wholesale prices was 8.23 percent in January while food inflation was 13.07 percent in the last week of January. Food inflation has dropped to 11.05 percent for the week ended Feb 5.