Inflation series with new base year from May 14
Items like typewriters and VCRs would soon be moving out making way for mobile phones and LCD TVs to be included in the new wholesale price-based index - for measuring inflation - which would be rolled out from May 14.business Updated: Mar 07, 2010 15:24 IST
Items like typewriters and VCRs would soon be moving out making way for mobile phones and LCD TVs to be included in the new wholesale price-based index - for measuring inflation - which would be rolled out from May 14.
The new index, with 2004-05 as the base year, will have 250 new items and is expected to provide a more realistic picture of price rise and its impact on people.
"As per the calendar, April data would be release on May 14 with the new base year," a senior official told PTI.
The new series would have about 680-685 items that include mobile phones, LCD TV among others, the official said adding close to 25 items would be knocked off from the new inflation series.
"Existing series has some obsolete items like type-writers. They will not figure in the new series," the official said.
With the addition of new items, data reporting would be more representative and give a better picture of the price situation, the official added.
The Wholesale Price Inflation (WPI) is at present calculated with 1993-94 as the base year.
Asked if there would be any variations in the inflation when it will switch to the new base year, the official said, "it would be insignificant and the variation would be less than 1 per cent."