Economists back CPI housing revamp

THE PROPOSED CHANGES in the Housing Index compilation methodology, including coverage of rural areas and exclusion of employer provided dwellings, will remove statistical distortions and discrepancies in the housing sector, economists said.

- KULDEEP SINGH

The Ministry of Statistics and Programme Implementation (MoSPI) has recently proposed various changes in the methodology for compilation of housing index in the revised Consumer Price Index (CPI) series to make it more robust. According to the government, the base year for the new CPI series will be 2024.