New Delhi, Feb 2 (IANS) India has discontinued releasing weekly inflation data in a bid to curb speculative movement in prices of essential commodities, official statement said Thursday.
Consequent upon the decision of the Cabinet Committee on Economic Affairs held Jan 24, 2012, weekly release of Wholesale Price Index (WPI) for the commodities/items under the groups “primary articles” and “fuel and power” is discontinued with immediate effect, the ministry of commerce and industry said in a statement.
“WPI shall, henceforth, be released on a monthly basis only,” it said.
The ministry of commerce and industry used to release WPI data on weekly basis, generally every Thursday.
The last weekly WPI for the week ending Jan 14, 2012, 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.
