By IANS,
New Delhi : The government Monday approved a proposal to release inflation data on a monthly basis instead of week-wise as is done currently.
The decision, taken by the Cabinet Committee on Economic Affairs (CCEA), will come into effect shortly, Commerce Minister Anand Sharma told reporters here after a CCEA meeting.
“We will soon have the new inflation data on monthly basis with the base year of 2004 instead of weekly basis. This is based on the recommendations of the NSSO (National Sample Survey Organisation) and the practice followed worldwide,” Sharma said.
“Because of the frequency, the response was also poor particularly from the manufacturing sector. But on the monthly performance, the response is bound to be better, reflecting the true position,” he added.
The minister, however, stated that the Wholesale Price Index (WPI) for primary articles would continue to be released on a weekly basis.
“On the primary commodities like food, fuel, power and lubricants that will continue on weekly basis.”