Retail inflation for industrial workers slows to 5.14% in April
NEW DELHI : Retail inflation for industrial workers slowed slightly to 5.14% in April from 5.64% in March, mainly due to lower prices for some food products.
âOne-year inflation for the month (April) stood at 5.14% compared to 5.64% for the previous month and 5.45% in the corresponding month of the previous year,â said Monday the Ministry of Labor in a statement.
According to the press release, food inflation stood at 4.78% in April against 5.36% the previous month. The same was at 6.56% in April 2020.
The CPI-IW (Consumer Price Index-Industrial Workers) for all of India for April 2021 rose 0.5 points to 120.1 points from 119, 6 points in March.
In terms of one-month percentage change, it increased 0.42% in April from March of this year while the increase was 0.92% from the same period a year ago.
The maximum upward pressure on the current index came from the food and beverage group which contributed 0.43 percentage points to the total change.
At item level, Arhar Dal, Masur Dal, Fresh Fish, Goat Meat, Poultry Chicken, Hen Eggs, Edible Oils, Apple, Banana, Grapes, Leeches, Orange, Papaya, Tea Leaf, Tea Hot Drink , Barber / Beautician Fees, flowers / flower garlands, medical costs, train costs, motorcycle maintenance costs and cable costs are among the factors that helped the index rise.
However, the increase was largely held back by items such as rice, onion, bitter gourd, drumstick, lady’s finger, parval, cooking gas, and gasoline.
At the central level, Jabalpur recorded a maximum increase of 3.6 points followed by Raipur and Bhavnagar with an increase of 3.2 and 3.1 points, respectively.
Six centers recorded an increase of 2 to 2.9 points while the increase was 1 to 1.9 points in 11 centers. In 49 centers, the increase was in the order of 0 to 0.9 points.
Coonoor recorded the maximum drop of 2.3 points while three centers saw a drop between 1 and 1.9 points, and 15 centers saw a drop between 0 and 0.9 points.
Labor Minister Santosh Gangwar said that the rise in the index would lead to an increase in the wages of the working class population through an increase in the cost allowance due to them.
âThe fall in inflation in April 2021 is a sign of respite for consumers, mainly due to lower retail prices for vegetables,â he noted.
The most important price statistic that has financial implications is the CPI-IW.
It is mainly used to regulate the cost allowance of civil servants and workers in industrial sectors. It is also used in setting and reviewing minimum wages in regular jobs in addition to measuring retail price inflation.
The director general of the Labor Office, DPS Negi, said that the rise in the index in April 2021 was in line with all other price indices compiled and published and that a decline in inflation during the month had been observed in all retail price indexes published by other government agencies.
The Labor Office, an office attached to the Ministry of Labor and Employment, compiles the consumer price index of industrial workers every month on the basis of retail prices collected from 317 markets in 88 major industrial centers in the country. country.
The data is published on the last working day of the following month.
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