Revamp Housing Index Compilation Method: Stats Ministry
NEW DELHI: The Ministry of Statistics is suggesting a significant overhaul of the housing index compilation methodology, part of the consumer price index (CPI) base revision exercise. Housing represents a substantial segment of the CPI, contributing approximately 21.7% of expenditures in urban areas and 10.1% nationally according to the current series. “As part of the ongoing base revision, we will reassess all components of the index compilation methodology to create a more robust and durable CPI series,” stated the ministry in the newly released discussion paper. Data on rent will now be collected monthly, replacing the previous six-month collection method.…