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Different Base Years for GDP and CPI Calculations
June 28 , 2025
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- The government is likely to adopt different base years for calculating Gross Domestic Product (GDP) and retail inflation (measured by the Consumer Price Index or CPI).
- The proposed base year for GDP is 2022–23, while for CPI it is 2023–24.
- Currently, both GDP and CPI use the 2011–12 base year.
- The choice of 2022–23 for GDP is due to key data sources like the Annual Survey of Industries (ASI), Annual Survey of Unincorporated Sector Enterprises (ASUSE), and the Household Consumption Survey being conducted during that year.
- CPI will use 2023–24 as its base year because the price collection survey began in January 2024.
- The new base years for GDP and CPI are expected to be implemented from the financial year 2026–27.
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