New Delhi, Sep. 8 (ANI): Moblie phones and digital cameras are among the 300 new items, which would figure in the new Wholesale Price Index (WPI).
Over 30 items would be taken off the new inflation series, which is expected to be out by December. Existing series has many obsolete items. They will not figure in the new series. There will be 25-30 articles which you will not see in the new index we are compiling,” an official said.
Most of the addition would be in the manufacturing products category and the primary items, which consist of food grains and milk, would remain unchanged, the official added.
There could be minor changes in the fuel, power light and lubricant group.
With the addition of new items, data reporting would be more representative and give a better picture of the price situation, he said.
The base year for the new index will be 2004-05 while the WPI is presently calculated on 1993-94 base.
The Department of Industrial Policy and Promotion (DIPP), which brings out the inflation data, has started a trial run of the new index and data is being collected.
In the trail index, data for 1,100 items are being collected, which would be eventually consolidated to about 700 articles, the official said.
In the existing series, the weight of primary articles is 22.02 per cent while manufactured products contribute 63.75 per cent.
The weight of fuel, power, light and lubricants in the index is about 14 per cent. (ANI)