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New CPI-IW Series
October 26 , 2020
1495 days
903
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- The Labour Bureau of Ministry of Labour and Employment has revised the base year of the Consumer Price Index for Industrial Workers (CPI-IW) from 2001 to 2016.
- This was revised to reflect the changing consumption pattern, giving more weightage to spending on health, education, recreation and other miscellaneous expenses, while reducing the weight of food and beverages.
- It is used for measuring inflation in retail prices.
- It is also used to regulate the dearness allowance (DA) of government staff and industrial workers, as well as to revise minimum wages in scheduled employments.
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