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Our Bureau

New Delhi, April 30 The Government in future will release monthly figures on rate of inflation.

It will also release the actual prices of various commodities used in calculating the inflation rate, the Secretary in the Department of Industrial Policy and Promotion (DIPP) told reporters here today.

Release of actual price data in the public domain will increase transparency and eventually correct anomalies, if any, in the price data collected by the DIPP, which is based on voluntary disclosures from trade sources, he said.

He said that the Government has also decided to shift to a new index – Producer Price Index (PPI) – in future which would give a better measure of the economic trend.

The PPI would capture the price movements at the producers’ level and would measure both input prices paid by the producers and the output price that they receive on produced items, he said.

“It is aimed at avoiding multiple counting and measuring of inflation of finished goods,” he said.

The current index does not include the services sector which accounts for more than 50 per cent of the GDP. The Government is also working to formulate an index that would be able to capture the trends in services also, he said.

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