Bookmark Bookmark

Base Year for Consumer Price Index changed

Base Year for Consumer Price Index changed

The Central Statistics Office (CSO) has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of January 2015.

The CPI (Rural, Urban, Combined) on Base 2012=100 is being released for the month of February 2019.

In addition to this, Consumer Food Price Index (CFPI) for all India Rural, Urban and Combined are also being released for February 2019.

What is CPI?

The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care.

It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Changes in the CPI are used to assess price changes associated with the cost of living; the CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.

CPI measures various items such as food, clothes, fuel, vehicles, transport and many more which has a correlation with common people.

The retail inflation number for February 2019 is the highest since October 2018 when it stood at 3.38 per cent, the data released by the Central Statistics Office under the Ministry of Statistics and Programme Implementation (MoSPI) showed.

You might be interested:

Daily News Digest:13 March 2019

US Administration is planning to shut overseas Immigration Field OfficesU.S. Citizenship and Immigration Services said on March 12 that the department is in preliminary discussions to close offices in ...

one year ago

Banking Digest, 14 March 2019

National This International Bank will provide 250 Million dollar for the National Rural Economic Transformation Project (NRETP) to boost Rural Incomes across 13 States in India - World Bank.&nbs ...

one year ago

One Liners of the Day, 14 March 2019

National This International Bank will provide 250 Million dollar for the National Rural Economic Transformation Project (NRETP) to boost Rural Incomes across 13 States in India - World Bank.  As ...

one year ago

Tamil Nadu is the most industrialized state as on FY 2016-17: RBI

Tamil Nadu is the most industrialized state as on FY 2016-17: RBI As per the fourth edition of statistical publication titled ‘Handbook of Statistics on Indian States 2018-19’ by the Reser ...

one year ago

Dr. A. Of Mohanty took over the post of director of BARC

Dr. A. Of Mohanty took over the post of director of BARC Dr. A.K. Mohanty took over as Director of the Bhabha Atomic Research Centre (BARC) from K.N. Vyas on March 12. Dr. A.K. Mohanty, he is a distin ...

one year ago

World Day Against Cyber Censorship: March 12

World Day Against Cyber Censorship: March 12 ‘World Day Against Cyber Censorship’ is an online event held each year on March 12. It is to rally support for a single, unrestricted Inte ...

one year ago

Provide your feedback on this article: