Inflation data to be released Thursdays

July 16th, 2008 - 10:57 pm ICT by IANS  

New Delhi, July 16 (IANS) The government has decided to release inflation data on Thursdays instead of the current practice of announcing it on Fridays to avoid the leakage of the sensitive information. The decision was taken in the wake of a few instances where the sensitive data was leaked before the official announcement, creating unnecessary hype and panic in the market, a commerce ministry official said Wednesday.

The wholesale price-based inflation data would be released at 5 p.m. every Thursday, after the closure of the stock market, to avoid unnecessary hype. Till now the data was released at 12 noon every Friday.

“The provisional inflation data is prepared on Thursday and released the next day for sake of convenience. But somehow there were cases of the information being leaked leading to chaos in the stock market,” the official said.

With the inflation rising to a 13-year high of above 11 percent, the sensitivity of data has assumed significance for the stock and bond markets.

Tags: , , , , , , , , , , , , , , , ,

Posted in Business |