Price Monitoring System App

About Price Monitoring System App: 

• Price Monitoring Division (PMD) in the Department of Consumer Affairs is responsible for monitoring prices of selected essential commodities. 
• To improve the quality of price data, the department launched a Mobile App in 2021 - the PMS App - for the reporting of daily prices by the price reporting centres.
• Source of price data: Retail and wholesale prices of commodities from 550 centers are received daily from the State Civil Supplies Departments of the respective State Governments through Mobile App developed by the Department.
• Total commodities monitored
  • At present the price is monitored for 22 essential commodities (Rice, Wheat, Atta, Gram Dal, Tur (Arhar) Dal, Urad Dal , Moong Dal, Masur Dal, Sugar, Gur, Groundnut Oil, Mustard Oil, Vanaspati, Sunflower Oil, Soya Oil, Palm Oil, Tea, Milk, Potato, Onion, Tomato and Salt).
  • The newly added 16 items included are Bajra, Jowar, Ragi, Suji (wheat), Maida (wheat), Besan, Ghee, Butter, Brinjal, Egg, Black Pepper, Coriander, Cumin seed, Red chillies, Turmeric powder and Banana.
  • The 38 commodities constitute close to 31% of the total CPI weights as against 26.5% of CPI weights captured by the 22 commodities.
• Significance: The price data monitored by the Department provides advance inputs for policy decision for the Government, RBI and analysts regarding the CPI inflation.

Q1: What is Wholesale Price Index (WPI)?

WPI measures the changes in the prices of goods sold and traded in bulk by wholesale businesses to other businesses. It is calculated and published by the Office of Economic Advisor, Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry.

Source: Food and Consumer Affairs Minister launches Version 4.0 Price Monitoring System (PMS) Mobile App