A reference base period is the year in which the consumer price index equals 100. It serves as a benchmark from which future inflation can be measured.

The government is planning to update the base year of the Consumer Price Index to 2024 from 2012 at present, and that of other macro-indicators such as the GDP, IIP and WPI to 2022-23, official ...

Currently both the CPI and IIP use 2011-12 as the base year. The consumer expenditure survey was delayed due to the pandemic, and its initial findings were released in February 2024. Related stories ...

The Ministry of Statistics and Programme Implementation (MoSPI) is updating the base year of the Consumer Price Index (CPI) from 2012 to 2024 to improve economic data accuracy. This will help ...

In an index such as CPI, the base year is usually assigned a value of 100. Currently, while the base year for CPI is 2012, it is 2011-12 for other indices such as gross domestic product (GDP) and ...

MoSPI launched the CPI series for rural, urban, and mixed sectors in 2011, starting with 2010 as the base year. The base year serves as a reference point, and the CPI for each month reflects price ...

MoSPI proposes changes to GDP, CPI base years, consults economists. A key reason for the coming base year revision may be the economic changes caused by the covid-19 pandemic, which put the brakes ...

GDP base year to be changed to 2017-18, while for CPI it will be 2018: Sadananda Gowda. For a better experience, ... (CPI) data with the new base year during 2019-20.

Following the change in base year, the index will give 39% weight to food and beverage consumption of workers now as against 46.2% earlier. In contrast, spending on housing will get almost 17% ...

Pronab Sen, former chief statistician of India, said the government’s plan to revise the CPI base year to 2024 is wise as the market survey is being conducted in this calendar year.