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02-23-2012, 11:23 AM #1
Consumer Price Inflation at 7.65%
India Consumer Price Inflation (CPI) in January is at 7.65 percent, the Central Statistics Office announced on Tuesday.
It is for the first time that India has had real year-on-year rate since the new CPI was introduced in January 2011.
The Central Statistics office said that the January consumer price Inflation in rural areas was at 7.38 percent and in urban areas was at 8.25 percent. The office said that it would release consumer price inflation data for rural, urban and combined, every month.
Srikant Jena, minister of state for statistics and programme implementation said that there was a long pending demand for a comprehensive consumer inflation rate.
The previous CPI numbers did not encompass all the segments of the population in the country and as such they did not reflect the true picture of the price behavior in the country. The government therefore felt that it was necessary to compile a CPI which took into account the consumption patterns of all segments of the population.
The CPI indices are available for five major groups namely Food, beverages and tobacco; Fuel and light; Housing; Clothing, bedding and footwear, and Miscellaneous. The CPI is 1 percent higher than the Wholesale Prices Index.