BoB forecasts inflation for May at 2.7%

THE STATISTICS MINISTRY is looking to use a host of alternative data sources such as over-the-top (OTT) platforms and online portals for air and rail travel as part of the new Consumer Price Index (CPI)-based retail inflation series and other official statistics, secretary Saurabh Garg said.

- AANCHAL MAGAZINE & SIDDHARTH UPASANI

At the same time, Niti Aayog vice-chairperson Suman Bery wondered if the ministry should even be working on such alternative data sets.

Garg said: "For the new CPI series, the ministry of statistics and programme implementation (MoSPI) is expanding its approach by exploring alternative data sources, such as online platforms for airfare, rail fare, OTT platforms and administrative records for price data of petrol, diesel and LPG. Discussions are ongoing with IRCTC under railway ministry, and PPAC under petroleum and natural gas ministry for direct transfer of data for integration in CPI."