School uniforms, pyjamas, kurtas, skirts, mobile phones these are set to be among 50 new items in India's revised Consumer Price Index (CPI) as the government seeks to put together a measure of retail inflation that better reflects changing consumption patterns. One of the effects of this could be a lowering of the inflation number because of the lesser importance given to food items in a revised price gauge. The Consumer Price Index is a critical determinant of the Reserve Bank of India's monetary policy ..................
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