What is the Consumer Food Price Index?
Consumer Food Price Index (CFPI) is a measure of change in retail prices of food products consumed by a defined population group in a given area with reference to a base year.
Consumer Food Price Indices (CFPI) is released for three categories -rural, urban and combined – separately on an all India basis with effect from May, 2014.
Like Consumer Price Index (CPI), the CFPI is also calculated on a monthly basis and methodology remains the same as CPI.
Who prepares the Consumer Food Price Index?
The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MOSPI) prepare the Consumer Food Price Index (CFPI). CSO chooses the Base Year with respect to which CPI and CFPI is calculated.
Price data are collected from selected towns by the Field Operations Division of NSSO and from selected villages by the Department of Posts. Price data are received through web portals being maintained by the National Informatics Centre.
What is the weightage split for different product categories in the Consumer Food Price Index?
All India Weights of different Sub-groups within Consumer Food Price Index
| Subgroups | Description | Rural | Urban | Combined |
| a. | Cereals and products | 36.71 | 28.51 | 34.16 |
| b. | Pulses and products | 6.25 | 6.11 | 6.20 |
| c. | Oils and fats | 8.98 | 9.44 | 9.13 |
| d. | Egg, fish and meat | 6.50 | 7.38 | 6.77 |
| e. | Milk and products | 16.53 | 21.59 | 18.10 |
| f. | Condiments and spices | 4.10 | 3.79 | 4.00 |
| g. | Vegetables | 12.64 | 12.93 | 12.74 |
| h. | Fruits | 3.65 | 6.14 | 4.43 |
| i. | Sugar etc. | 4.64 | 4.11 | 4.47 |
| Total Weights | 100.00 | 100.00 | 100.00 |
What is the Food Price Index released by the Food and Agriculture Organization (FAO) of the United Nations (UN)?
Globally, food price index is released by Food and Agriculture Organization of the United Nations. The FAO Food Price Index is a measure of the monthly change in international prices of a basket of food commodities.
It consists of the average of five commodity group price indices (Cereal, Vegetable Oil, Dairy, Meat and Sugar) weighted with the average export shares of each of the groups for 2002-2004.
Source: Arthapedia
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