New Delhi, March 5 -- CPI new series is a veritable storehouse for robust data-based policy signals and is important for inflation nowcasting, corporate pricing, scenario analysis, public distribution system (PDS) and changing patterns of urbanisation across states, said the SBI report released here on Thursday.
The report noted that if the CPI 2012 classification system were followed, the share of food and beverages would have declined from 45.86 per cent to 40.10 per cent and not 36.75 per cent as is the current weight for the 2024 series.
The new CPI series reveals disproportional coverage with 90 per cent of the weights covered by 148 items, and it is extremely useful for inflation nowcasting, corporate pricing strategy, and scenario ...