Business Daily from THE HINDU group of publications Friday, Feb 09, 2007 ePaper |
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Opinion
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Letters Inflation figures
The article "Are inflation figures the least trusted official statistics?" (Business Line, February 8) was informative and humorous. It is true that the official inflation number is the least trusted figure. This is exacerbated by inconsistency in methodology and computation; also the non-inclusion of certain crucial services diminishes the authority of the inflation numbers periodically rolled out. The weightages of various components of the benchmark Wholesale Price Index (WPI) are questionable; it is time for a revamp of the weights and for a rethink on inclusions or exclusions. The time has arrived for an individual citizen to work out his or her own inflationary figures based on consumption and expenditure patterns. A ball-park inflation figure will not be of much help in such changing times. The Government should consider introducing Personal Inflation Calculators, similar to the one in the UK. Sakthi Prasad Bangalore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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