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Index Numbers — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIndex Numbers3 Marks
Question
Explain briefly the process of data collection for Consumer Price Index (CPI).
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Answer

Primary data is collected every month to compute rural and urban CPI in the following ways:
  1. For CPI (Rural), two villages are selected from each district. Presently data is collected from 1181 villages. Number of items for price data collection is identified through the market survey and it is around 225. Price data is collected from selected shops in the villages every month by the Department of Posts.
  2. For CPI (Urban), data is collected from all cities, having a population of more than 9 lakhs. Presently, total number of selected cities is 310. Number of items for price data collection is identified through the market survey and it is around 250. Each selected market is visited every month for price data collection from shops and outlets.
  3. 4.75 lakh price data records collected from rural and urban areas are uploaded per month to the web portal of National Informatics Centre, which is the formal data collection arm of NSSO (National Sample Survey Organisation).

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