New Delhi, Oct. 31 -- The ministry of statistics and programme implementation (MoSPI) on Thursday unveiled a discussion paper proposing significant changes to the way India measures housing inflation, a move that could reshape one of the most influential components of the Consumer Price Index (CPI).

The proposal is part of a broader CPI base revision exercise aimed at making India's key inflation gauge more reflective of current consumption patterns and price realities.

The ministry said it is reassessing existing methodologies, exploring new data sources, and incorporating insights from experts and stakeholders to refine the tracking of consumer prices.

Housing plays a central role in this recalibration. It currently accounts for 21.7...