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Cost Inflation Index

 


  • It is used to estimate the increase in the prices of goods and assets year-by-year due to inflation.
  • It is calculated to match the prices to the inflation rate. In simple words, an increase in the inflation rate over time will lead to a rise in the prices.
  • Cost Inflation Index = 75% of the average rise in the Consumer Price Index (urban) for the immediately preceding year.
    • Consumer Price Index compares the current price of a basket of goods and services (which represent the economy) with the cost of the same basket of goods and services in the previous year to calculate the increase in prices.
  • The Central Government specifies CII by notifying in the official gazette.
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