The Reserve Bank may give up its opposition to the proposal of a monthly compilation and release of inflation data, with D Subbarao moving to the central bank from the finance ministry, which was open to the idea of a shift in the time table of the Wholesale Price Index.
"Subbarao, as secretary in the finance ministry, has been supportive of the monthly release of inflation data. Now that he is the RBI governor, the central bank is expected to agree," a senior official told PTI.
With most government departments, including the Planning Commission, clearing the proposal, the Department of Industrial Policy and Promotion is expecting to move to the monthly release of the price rise data, which is now keenly watched every Thursday.
The rate of price rise is expected to be released on a monthly basis by October-end or mid-November.
The base year for the proposed new series would be 2004-05 and the index calculation would be based on 1,100 items instead of the present 440.
However, the price fluctuation in agricultural commodities will continue to be released weekly.
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