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The proposal for releasing inflation data on a monthly basis has been approved by the government. Union Commerce Minister Anand Sharma, while addressing the media after the Cabinet Committee on Economic Affairs meeting, which approved the proposal, mentioned that this will be implemented soon.
"We will soon have the new inflation data on monthly basis with the base year of 2004 instead of weekly basis. This is based on the recommendations of the NSSO (National Sample Survey Organisation) and the practice followed worldwide," Sharma said.
"Because of the frequency, the response was also poor particularly from the manufacturing sector. But on the monthly performance, the response is bound to be better, reflecting the true position," he added.
But he added that the Wholesale Price Index for essential commodities will be made available every week.
"On the primary commodities like food, fuel, power and lubricants that will continue on weekly basis”, added the Commerce Minister.
