BANKING AFFAIRS

Detailed explanation-1: -The new series of CPI(IW) with base 2016=100 will replace theexisting series with base2001=100. Earlier to this revision, the series were also revised from the year 1944 to 1949; 1949 to 1960; 1960 to 1982 and 1982 to 2001 since inception of Labour Bureau.

Detailed explanation-2: -The indexes have a base of 1982-84=100, unless otherwise noted. This means that the average of the monthly index values is 100 over the 36 months in 1982 through 1984. An index represents the relative change over time since a base period.

Detailed explanation-3: -Base Year for CPI is 2012. Recently, the Ministry of Labour and Employment released the new series of Consumer Price Index for Industrial Worker (CPI-IW) with base year 2016.

Detailed explanation-4: -Nov. Dec. The Labour Bureau has changed the base year of the Consumer Price Index for Industrial Workers from 2001 to 2016. The link factor for the new series (2016=100) to the old series (2001=100) is 2.88.

Detailed explanation-5: -The base year for CPI (IW) is 1982. 5.14 Movement of WPI and CPI by quarter (over previous quarter) may be seen in Tables 5.4 and 5.5. The Wholesale Price Index (WPI) is the most widely used price index in India, and is an indicator of movement in wholesale prices of 435 commodities in all trade and transactions.