New index only in October: Official

The government has postponed the introduction of a new system to measure inflation from August to October as it is....

Written by Press Trust Of India | New Delhi | Published:August 20, 2010 2:15 am

The government has postponed the introduction of a new system to measure inflation from August to October as it is tying up some “loose ends” to include another 250 items,in sync with modern times.

“It will take some more time for us (commerce and industry ministry) to close some of the loose ends… by the end of September or early October,we should expect it to come in to force,” said a commerce and industry ministry official.

The new index would give a more realistic picture of the price rise and its impact on people. In the index would take 2004-05 as the base year and the number of commodities would go up to about 680.

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