Improving Consumer Price Index Numbers on Base 2012=100: An Insight into Rural, Urban, and Combined Data for April 2023

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Improving Consumer Price Index Numbers on Base 2012=100: An Insight into Rural, Urban, and Combined Data for April 2023

The Significance of All India Consumer Price Index (CPI) and Consumer Food Price Index (CFPI)

The National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI), recently published the latest Consumer Price Index (CPI) data for the month of April 2023. This comprehensive report includes data for Rural (R), Urban (U), and Combined (C) areas. The CPI is measured based on the 2012=100 index, providing valuable insights into the inflation rates and price trends across various regions in India.

Data Collection Methodology

To ensure accuracy and reliability, the NSO conducted a meticulous data collection process. Their dedicated Field Operations Division dispatched field staff to personally visit selected urban markets and villages across all States and Union Territories (UTs). This extensive effort involved collecting price data on a weekly basis using a predetermined roster. For the month of April 2023, the NSO successfully gathered price information from approximately 99.83% of villages and 98.56% of urban markets. The reported market-wise prices accounted for 89.90% of rural areas and 93.14% of urban regions.

All India Inflation Rates: A Comparative Analysis

The All India inflation rates, determined on a point-to-point basis (i.e., the current month compared to the same month of the previous year), provide valuable insights into the price fluctuations experienced in April 2023 in comparison to April 2022. These rates are calculated based on General Indices and CFPIs and are as follows:

All India year-on-year inflation rates (%) based on CPI (General) and CFPI: April 2023 over April 2022

 Apr. 2023 (Prov.)Mar. 2023 (Final)Apr. 2022
RuralUrbanCombd.RuralUrbanCombd.RuralUrbanCombd.
InflationCPI (General)4.684.854.705.515.895.668.387.097.79
CFPI3.833.693.844.724.824.798.508.098.31
IndexCPI (General)178.8177.4178.1178.0176.3177.2170.8169.2170.1
CFPI173.6180.0175.9173.0178.4174.9167.2173.6169.4
Source:PIB

 Notes: Prov.  – Provisional, Combd. – Combined

4.         Monthly changes in the General Indices and CFPIs are given below:

Monthly changes (%) in All India CPI (General) and CFPI: April 2023 over March 2023

IndicesApr. 2023 (Prov.)Mar. 2023 (Final)Monthly change (%)
RuralUrbanCombd.RuralUrbanCombd.RuralUrbanCombd.
CPI (General)178.8177.4178.1178.0176.3177.20.450.620.51
CFPI173.6180.0175.9173.0178.4174.90.350.900.57
Source:PIB

         Note: Figures of April 2023 are provisional.

  1. Overall Inflation Rates: The CPI data reflects an overall inflation rate for All India. By considering the General Indices and CFPIs, it offers a comprehensive overview of the country’s economic landscape.
  2. Rural Inflation Rates: Analyzing the CPI data for Rural areas helps understand the specific price movements and inflation rates experienced by people residing in villages. This information is crucial for policymakers and economists to assess the economic well-being of rural communities.
  3. Urban Inflation Rates: Similarly, the CPI data for Urban areas provides insights into the inflation rates and price trends specifically affecting the urban population. Understanding these variations aids in formulating targeted policies to address the unique challenges faced by urban dwellers.
  4. Combined Inflation Rates: The combined CPI data considers both Rural and Urban areas, presenting a holistic view of the inflation rates across the entire country. This comprehensive analysis helps policymakers gain a deeper understanding of the overall economic climate.

Conclusion

The release of the All India Consumer Price Index (CPI) for April 2023 serves as a valuable resource for economists, policymakers, and individuals interested in understanding the inflation rates and price trends in India. The data collected by the NSO, through an extensive field staff operation, ensures the reliability and accuracy of the information. By analyzing the CPI for Rural, Urban, and Combined areas, one can gain valuable insights into the economic landscape and make informed decisions based on these trends.

Disclaimer:The information provided in this article is based on the official release by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI). Any further analysis or interpretation should be done in conjunction with other relevant economic indicators and expert opinions.

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