India discontinues weekly inflation data (Lead)

February 2nd, 2012 - 4:45 pm ICT by IANS  

New Delhi, Feb 2 (IANS) The Indian government has discontinued releasing weekly inflation data in a bid to curb the speculative movement in prices of essential commodities, an official statement said Thursday.

In line with the decision of the Cabinet Committee on Economic Affairs of Jan 24, weekly release of Wholesale Price Index (WPI) for commodities/items under groups “primary articles” and “fuel and power” had been stopped, the ministry of commerce and industry said.

“WPI shall, henceforth, be released on a monthly basis,” it said.

The ministry used to release WPI data on weekly basis, generally every Thursday. The last weekly WPI for the week ending Jan 14 was released Jan 27.

The most closely tracked data in the WPI was that of food inflation. As per the last weekly data released Jan 27, food inflation was recorded at -1.03 percent for the week ended Jan 14.

The monthly WPI for January will be released Feb 14, the statement said.

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