Question : PRICE INDEX



(a) the names of the commodities included for monitoring of Wholesale Price Index and Consumer Price Index andthe year in which the last commodities included in these index;

(b) whether there has been a liquidation in the Whole Sale Price Index and Consumer Price Index in the last few months;

(c) if so, the details thereof;

(d) whether any decrease registered during each of the last six months till march, 2005;

(e) if so, the details thereof; and

(f) the steps taken to make changes in the method of calculating of Wholesale Price Index and Consumer Price Index?

Answer given by the minister


MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S.PALANIMANICKAM)

(a): A High Powered Price Monitoring Board (HPPMB) in the Cabinet Secretariat monitors the movement of wholesale and retail prices of selected essential commodities which include Rice, Wheat,Atta,Arhar,Gram, Tea, Milk, Sugar, Groundnut Oil, Mustard Oil, Vanaspati, Potato, Onion and Salt.All these items are included in the current Wholesale Price Index (WPi) (base: 1993-94=100) and the Consumer Price Index for Industrial Workers (CPI-IW) (base: 1982=100)

(b)& (c): The WPI series with base 1993-94 and CPI-IW series with base 1982 are still in vogue.

(d}& (e): Table showing the increase and decrease in terms of WPI and CPl is indicated below:


Table: Inflation (%)Over previous year in terms of WPI Inflation(%)overpreviousyearinterms ofCPl(IW) 2004 2004 2004 2005 2005 2005 2004 2004 2004 2005 2005 2005 Items Oct Nov Dec Jan Feb(p) Mar(p) Oct Nov Dec Jan Feb Mar Rice -1.5 -0.1 3.4 2.5 2.9 3.6 -1.1 0.4 0.9 1.3 1.4 NA Wheat 3.7 1.9 0.3 -1.2 -1.6 -0.4 -1.2 -1.7 -3.0 -2.5 0.5 NA Wheat 2.1 1.2 -0.6 -1.9 -2.3 0.8 0.9 -1.0 -1.5 -0.9 2.3 NA (Atta) Arhar 12.5 3.2 -0.7 -5.6 -6.6 -6.0 10.2 7.8 4.0 2.5 -0.7 NA Dal Gram -5.0 -5.1 4.0 -2.4 -2.1 -0.7 -2.5 -2.3 -2.0 -0.4 -0.7 NA Dal Tea- 37.8 35.5 20.7 5.7 10.9 16.7 0.5 1.1 1.6 2.0 3.3 NA leaves Milk 4.0 4.4 3.9 4.1 2.8 -0.7 3.7 3.2 2.4 2.0 1.2 NA Sugar 15.6 15.5 18.9 30.8 19.3 20.5 15.2 16.1 13.8 23.2 19.8 NA Ground- 4.3 10.9 3.3 -2.3 -5.0 -4.2 3.4 3.0 0.4 -1.9 -2.8 NA nut Oil Mustard -7.1 -9,0 -9.5 -11.2 -16.4 -14.6 -7.9 -9.4 -10.7 -9.1 -5.4 NA Oil Vanas- 5.1 3.3 2.2 0.8 -1.6 -2.6 4.9 3.9 1.8 -2.0 -5.1 NA pati Potato 89.5 53.7 18.2 32.2 52.0 37.2 53.2 47.0 26.8 6.1 -14.1 NA Onion -18.8 -22.1 -30.6 -40.9 -42.6 -26.4 -16.9 -25.2 -30.7 -20.1 -9.6 NA Salt 17.5 15.0 21.2 34.2 42.6 40.6 -0.1 0.7 0.5 0.9 -29.6 NA P- provisional NA: Not Available

(f):For revision of the current series of Wholesale Price Index, a working group has been setup under the Chairmanship of Prof. Abhijit Sen of Jawaharlal Nehru University (JNU) currently Member, Planning Commission. The working group is mandated to review the commodity coverage, base year, weighting,;diagram and related issues, particularly keeping in view the recommendation of the National Statistical Commission. Similarly,Labour Bureau under the Ministry of Labour has start ed the process of updating the current series of CPI-IW with base: 1982 =100 to the new base with 2001 = 100.