The Commerce and Industry Ministry will soon seek Cabinet nod to give out inflation data every month instead of the present practice of weekly release.
Although the price variations on food articles and fuel items will be announced every week, the price index for manufactured goods (which have the highest weight in the wholesale price index) will be released every month, sources said.
"We will soon approach the Cabinet on this issue (monthly release of price series)," a source said.
Explaining the rationale behind the move, sources said data reporting on a monthly basis is more representative and gives a better picture of the price situation.
With monthly calculation, the data would be more reliable, sources said, adding that most countries come out with a monthly inflation number.
Besides, the government is planning to come out with new, comprehensive index with 2004-05 as the base year.
The trial run for the new index has started and data are being collected, sources said.
The data collection started with 1,100 items, which would eventually reduce to about 700 articles, sources said.
Currently, the wholesale price index comprises 435 articles with the base year 1993-94 for calculating the price series.