Statistics Ministry to Release New CPI Item Weights Ahead of Inflation Data
5 hours agoBusiness
41LENS
1 Sources
TBNthebalanced.news
Statistics Ministry to Release New CPI Item Weights Ahead of Inflation Data

The Statistics Ministry plans to release the item weights for the new Consumer Price Index (CPI) series before the first inflation data is published on February 12. This move aims to assist economists in forecasting inflation under the updated basket, which is based on the 2023-24 Household Consumption Expenditure Survey. The current CPI series, using 2011-12 data, includes 299 items, with the new series expected to expand this number. Item weights significantly influence inflation calculations, as demonstrated by the impact of gold and silver prices.

Political Bias
33%34%33%
Sentiment
55%