Base Year of CPI- Industrial Workers Revised to 2016
On 22nd October, 2020, the Labour and Employment Ministry revised the base year of the Consumer Price Index (CPI) for Industrial Workers (CPI-IW) from 2001 to 2016, giving more weight to spending on housing, education and health in inflation index calculation.
- Earlier, the series were also revised from 1944 to 1949; 1949 to 1960; 1960 to 1982 and 1982 to 2001.
- As per the recommendations of International labour organisation (ILO), Index Review Committee (IRC), and National Statistical Commission (NSC), the base year of price index numbers should be revised at frequent intervals generally not exceeding 10 years.
Important Improvements Made Under ....
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