India’s Industry Dept. Proposes Releasing WPI Data On Monthly Basis From October

(RTTNews) - The industry department proposed to the Cabinet to release the wholesale price index or WPI data once a month, instead of the present practice of reporting on weekly basis, media reported.

In case the proposal gets Cabinet nod, the monthly reporting will commence from October this year, Government officials said in a statement.

India releases data on weekly movement of the wholesale price index, which measures the annual inflation rate of 435 items in the basket with 1993-94 as the base year. The Department of Industrial Policy and Promotion in the commerce and industry ministry acts as the nodal agency for compiling and disseminating the WPI data.

It is likely that the finance ministry and the Planning Commission will support the switchover to a monthly reporting system. Earlier, the finance ministry and the Reserve Bank of India had some reservations because the monthly data would delay the policy response. The industry department is in talks with the RBI on the issue, the official added.

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