The RBI study group, on Monday, suggested introduction of monthly and fixed-base inflation rates, in addition to the annual rate, to fully capture price rise and the impact on seasonal factors on prices of goods and commodities.

“Inflation rate based on annual point-to-point basis, supplemented with month-over-month and fixed-base (using seasonally-adjusted price series) provide better signal regarding price dynamics ,” said RBI’s technical group report on “Seasonal Movements in Inflation.”The RBI, inviting public comments, has expressed apprehension that “publication of inflation figures, not consistent with actual movements in price series, that is WPI/CPI, may result in biased expectations”.