Online prices in 12 cities to be monitored for new CPI series
The government plans to monitor e-commerce price trends in 12 major cities to improve the accuracy of the new Consumer Price Index (CPI) series, set to release in 2026. This initiative involves tracking prices from leading online sellers and expanding market coverage to 2,900 markets.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
New Delhi: The government has identified 12 cities with a population of more than 2.5 million each to monitor e-commerce price trends as part of efforts to accurately capture changing consumption patterns in the new Consumer Price Index (CPI) series, which is scheduled for release in 2026, said people aware of the development.In each of these cities, prices of a particular item charged by the leading seller in that city will be noted. For instance, rice prices in Lucknow could be tracked via BigBasket, while in Bengaluru it might be Amazon, said an official, who did not wish to be identified.The updated CPI series will expand coverage to 2,900 markets, up from the current 1,181 rural and 1,114 urban markets, the people told ET.The base year for the price series will shift to 2024 from 2012, while the weights of items in the index will be derived from the Household Consumption Expenditure Survey (HCES) 2022-23.The new series will avoid redistribution of weights. "There will be no redistribution of weights in the new series," the official said.To incorporate changing consumption patterns in the CPI, weights are often redistributed. However, this can lead to overestimation as reallocating weight to another commodity may inaccurately represent its actual share in the consumption basket."It could be that the composition and weights must be fairly representative and in accordance with HCES 2011-12, which is why they have decided on exclusion of redistribution of weights," said Madan Sabnavis, chief economist at Bank of Baroda Gaura Sengupta, chief economist at IDFC First Bank , said this is done to avoid volatility in the index.The statistics and programme implementation ministry aims to enhance market coverage across sectors. The new series will also track prices of online streaming services (OTT platforms), as well as rail and air fares.The ministry had written to e-commerce and quick commerce companies such as Amazon, BigBasket, Zepto, Flipkart and Zomato nearly two years ago, seeking access to pricing data. However, none of them agreed to share the information owing to concerns around privacy and business strategy confidentiality.The ministry is exploring the use of scanner data, which has been incorporated by many European countries. Efforts are underway to directly procure scanner data from retail organisations, the official said.Web scraping is also being explored, it poses some challenges, according to the official.The ministry is also consulting international organisations, including the World Bank and the International Monetary Fund, ET had reported earlier.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
What should you do with your annual bonus - save or spend?
Sharmin Adhikari is 35 years old and an interior designer by profession. She is thrilled about her annual bonus and the extra cash she has received, especially during the vacation season. She is tempted to splurge on a dream European cruise with her husband, but also feels the need to save. Torn between indulgence and prudence, she is weighing her options and wants to know what to do. Sharmin Adhikari should start by clearing her outstanding debts. She should begin with credit cards, followed by personal, car and home loans, in this order. Credit cards carry the highest urgency, with interest rates reaching up to 36% annually. While using the bonus to pay off debt is technically spending, it leads to significant monthly savings by cutting down future interest costs. Once the debt is under control, her next priority should be to build an emergency fund, if she doesn't already have one. If Adhikari has already tackled her high-cost debt and has built an emergency fund, she can consider splitting her bonus between saving and spending. After all, she has earned it, and a small, thoughtful indulgence can be a rewarding way to celebrate. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pensioners Can Buy These Electric Cars in Kuala Lumpur - See Prices Here! Electric Cars | Search Ads Search Now Undo Choosing something that offers lasting value, like a short, affordable holiday, may be more meaningful than splurging on a bucket-list cruise. The rest of the bonus could be set aside for upcoming expenses , such as home repairs, new car, or a short course, or added to her long-term savings for goals like retirement . The things that Adhikari could do with her bonus could be endless. The decision on what to do with a bonus cheque doesn't always have to be a choice between saving and spending. The only caveat is her financial situation. In case there is a debt or a major expense looming, the money might be best saved. Live Events Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Meht a.
Time of India
2 hours ago
- Time of India
Asian stocks advance on trade talks, US jobs data
Asian stocks opened higher Monday with the US and China set to resume trade negotiations, while positive jobs data in the world's largest economy eased recession fears . Equities in Japan and and South Korea opened higher while contracts for the S&P 500 index were flat after the gauge closed at its highest since February. Yields on 10-year Treasuries were steady at 4.51%, after surging Friday. The yen was slightly stronger against the dollar. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 목어깨 아플땐 "이모양 베개" 절대 쓰지마세요. 7년차 개발자 더 알아보기 Undo Trade tensions appeared to recede between President Donald Trump and China's Xi Jinping as an impasse on critical minerals was broken, paving the way for further trade talks . Adding to the optimism in the stock market was the surprise in labor data. While US job growth moderated in May and prior months were revised lower, Friday's report narrowly exceeded forecasts. 'Trade policy will remain the big macro uncertainty,' Kyle Rodda, a senior market analyst at wrote in a note Monday about the US-China negotiations. 'Signs of further momentum in talks could give the markets fresh boost to kick-off the week.' Stock markets have rebounded following a tumultuous two-month period, with the S&P 500 gaining for the fifth week in seven. Asian and European equity benchmarks have risen seven times in the past eight weeks. Live Events Meanwhile, the US and Chinese negotiators are set to open their second round of trade talks Monday in London, the first since Trump and Xi finally broke a logjam. That's offering a glimmer of hope that the world's two largest economies can defuse tensions over Chinese dominance in rare-earth minerals. Both sides had accused the other of reneging on a deal reached in May in Geneva, where they tried to start dialing back the trade war. Ahead of the talks, China granted approval to some applications for the export of rare earths. Boeing Co. has also begun shipping commercial jets to China for the first time since early April, indicating a reopening of trade flows. Later this week, attention will turn to the sale of government bonds in the US. The Treasury is set to sell $22 billion of 30-year bonds on Thursday, part of its regularly scheduled borrowings. This comes after global investor pushback against long-term government debt. Investors will also be watching US inflation print this week. On Friday, nonfarm payrolls increased 139,000 last month after a combined 95,000 in downward revisions to the prior two months. The unemployment rate held at 4.2%, while wage growth accelerated. The payrolls figure helped alleviate concerns of a rapid deterioration in labor demand as companies contend with higher costs related to tariffs and prospects of slower economic activity. In other trade news, a US trade team that's currently in India for negotiations has extended its stay, according to people familiar with the matter. That's a sign talks are progressing ahead of a July deadline.
Mint
2 hours ago
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Monday — 9 June 2025
Stock Market Today: During the week ending 6 June 2025, the benchmark Nifty-50 index managed to end at 25,003.0, up 1.0% week on week , primarily helped by favorable domestic cues. Bank Nifty also gained 1.4% to 56,578.40 levels while Realty, auto and even Metals were among other key gainers though IT in wake of unfavorable global cues was a key loser. The broader markets saw smart gains with mid and small caps rising between 2.8% and 4%. For the Nifty-50 index the 20-day SMA, around 24,800, will act as a trend decider level and above this level, the bullish formation is likely to continue, with 25,100 serving as the immediate resistance.. A successful breakout above 25,100 could push the market up to 25,400–25,500, and conversely below 24,800 the market may retest the 24,500/80600 level, as per Amol Athawale, VP-technical Research, Kotak Securities. For Bank Nifty the key support zones are around 56,000 and 55,500, above this the positive momentum could continue towards 57,200–57,700, added Athawale. Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of the monsoon and sowing patterns will be monitored due to their implications for rural consumption. On the global front, developments in trade negotiations and movements in U.S. bond yields will continue to influence investor sentiment. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks These Include Infosys Ltd , ICICI Bank , CESC Ltd , Bajaj Finserv Ltd, Bharat Heavy Electricals Ltd, Poonawalla Fincorp Ltd, Fino Payemts Bank and Bajaj Housing Finance Ltd Infosys Ltd- Bagadia recommends buying Infosys or INFY at around ₹ 1568 keeping Stoploss at ₹ 1515 with a target price of ₹ 1660 INFY is currently trading at 1586, showing signs of stabilization after a sharp decline earlier in the year. The price action over the past few weeks has entered a narrow consolidation band, indicating a phase of base-building. This sideways movement, occurring after a pronounced downtrend, may be laying the groundwork for a potential reversal, though confirmation through stronger price follow-through is still awaited. 2. ICICI Bank Ltd - Bagadia recommends buying ICICIBANK at around ₹ 1460 keeping Stop loss at ₹ 1400 with a target price of ₹ 1575 ICICIBANK is currently trading at 1460 and is showing signs of strength after retesting its all-time high zone. The stock has been consolidating in a narrow range near its lifetime highs, indicating healthy digestion of prior gains and suggesting that market participants are not rushing to book profits. This consolidation near the peak levels generally acts as a continuation pattern, with a potential breakout likely to propel the stock into uncharted territory 3. CESC Ltd - Dongre recommends buying CESC at around ₹ 168 keeping Stoploss at ₹ 160 for a target price at around ₹ 183 Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 168 and maintaining a strong support at ₹ 160. The technical setup indicates the potential for a price retracement towards the ₹ 183 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 160 offers a prudent approach to capturing the anticipated upside. 4. Bajaj Finserv Ltd- Dongre recommends buying BAJAJFINSV at around ₹ 1992 keeping Stoploss at around ₹ 1950 for a target price of ₹ 2100 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1992 and holding above a key support level at ₹ 1950. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1950 to manage downside risk. The target for this trade is set at ₹ 2100, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 5. Bharat Heavy Electricals Ltd- Dongre recommends buying Bharat Heavy Electricals or BHEL at around ₹ 255 keeping Stoploss at around ₹ 250 for a target price of ₹ 267 In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 255 and holding above a key support level at ₹ 250. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 250 to manage downside risk. The target for this trade is set at ₹ 267, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 6. Poonawalla Fincorp Ltd- Koothupalakkal recommends buying POONAWALLA FINCORP at around ₹ 421 for a target price of ₹ 445keeping Stoploss at around ₹ 410 The stock has indicated a strong bullish candle on the daily chart to give a breakout above the previous peak zone of ₹ 416 level to strengthen the bias and can anticipate for further rise in the coming sessions. The RSI is currently maintained strong and can expect for further positive move in the coming sessions with significant volume participation also visible during the session. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 445 level keeping the stop loss of ₹ 410 level. 7. Fino Payments Bank Ltd- recommends buying FINO PAYMENTS BANK at around ₹ 266 for a target price of ₹ 282 keeping Stop loss at ₹ 260 The stock has witnessed a decent pullback from near the important 50EMA at ₹ 246 level and has strengthened the bias with a series of positive candles to expect for further upward move in the coming sessions. The stock has corrected well and has much scope for further upward movement with the chart setup looking good. The RSI has indicated a positive trend reversal to signal a buy and with much upside potential visible, one can anticipate for another fresh round of momentum to carry on with the positive move further ahead. 8. Bajaj Housing Finance Ltd - Koothupalakkal recommends buying Bajaj Housing Finance or BAJAJ HSG FIN at around ₹ 125.66 for a target price of ₹ 135 keeping Stop loss at ₹ 122 The stock has witnessed an overall gradual uptrend after bottoming out near 104 zone and currently after a short period of consolidation has indicated a positive candle formation on the daily chart taking support near the 50EMA level at ₹ 123 zone to anticipate for further rise in the coming sessions. The RSI is well placed and has much upside potential visible from current rate. With the chart looking good, we suggest buying the stock for an upside target of ₹ 135 level keeping the stop loss of ₹ 122 level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
