Govt panel considering major cut to food weighting in new CPI basket

Quick Summary:

The government panel is also discussing including consumer electronic products, such as smartphones in the updated index, the person said.

A revision of the CPI, which currently has some 299 items, would see redundant items such as horse cart fares, prices for video cassette recorders, and costs of audio and video cassettes likely weeded out of the calculation.

Bloomberg Economics estimates inflation in June was 70 basis points higher than it would have been using new weights.

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Category: BusinessFinance

Markets: India

Topics: CPI Govt of India CPI inflation Govt Food weighting Consumer price basket CPI basket

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Article Type: News Report

Published On: 2024-08-07 @ 10:11:38 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 460 words

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Sentences: 21 lines

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News ID: 21965187

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