Officials told ET that the training includes identifying markets and key stores to gather statistics.
The ministry has identified the most frequently visited stores as permanent and two reserve stores in each market.
“The CPI-based refresh training program will strengthen data collectors to identify the correct market and the correct store for product identification,” said the official.
This process also includes identifying the items for which prices are collected and their specifications. Item weightings will be determined by the Household Consumption Expenditure Survey (HCES), which is currently underway and will be completed in July 2024.
“The expert group on standard revision has already identified a preliminary sample size for the standard revision work. A comprehensive sampling plan has been identified to capture rural and urban populations,” it said. said the official quoted above.
The ministry has significantly increased the sampling window for the experiment to get more definitive results. The training will be conducted by the ministry’s Price Statistics Division, which is in charge of publishing the consumer price index.
This will be the first base revision exercise in nearly a decade. The Indian Consumer Price Index is based on the Household Consumption Expenditure Survey conducted in 2011-2012.
The government ignored the 2017-18 Household Consumption Expenditure Survey, citing data discrepancies.
The government has conducted two consecutive surveys on the current HCES. The first investigation will be completed this month, after which the government will launch a second investigation, which is expected to be completed by July next year.
Results will be published after the two surveys are completed. The government had decided to conduct two surveys to ensure consistency. Experts say India needs to revise its consumer inflation data to get a better picture of spending patterns.
