MoSPI Releases Expert Group Report for CPI 2024 Series
The Ministry of Statistics and Programme Implementation (MoSPI) announced the release of an Expert Group Report on the Comprehensive Updation of the Consumer Price Index (CPI). The report, which involved experts from academic institutions, the Reserve Bank of India, and government officials, is aimed at revising the CPI base to accurately reflect changing household consumption patterns and align with global practices. Key recommendations include adopting the COICOP 2018 framework for item classification, updating the CPI basket based on the Household Consumption Expenditure Survey 2023-24, and enhancing index compilation with technological advancements and more detailed data dissemination. The new CPI 2024 series will be disseminated starting February 12, 2026.
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