Retail inflation for industrial workers rises to 5.57% in June

Retail inflation for industrial workers inched up to 5.57 per cent in June compared to 4.42 per cent in May this year, mainly due to higher prices of certain food items.

"Year-on-year inflation for the month stood at 5.57 per cent compared to 4.42 per cent for the previous month (May) and 6.16 per cent during the corresponding month (June 2022) a year before," a labour ministry statement said.

Similarly, food inflation stood at six per cent against 3.24 per cent in the previous month and 6.73 per cent during the corresponding month a year ago, it added.

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The All-India CPI-IW (consumer price index for industrial workers) for June 2023 increased by 1.7 points and stood at 136.4 points. It was 134.7 points in May 2023.

On one-month percentage change, it increased by 1.26 per cent with respect to the previous month against an increase of 0.16 per cent recorded in corresponding months a year ago, it stated.

The maximum upward pressure in the current index came from Food & Beverages group, contributing 1.62 percentage points to the total change.

At item level, Rice, Wheat, Wheat Atta, Arhar Dal, Moong Dal, Fish Fresh, Poultry Chicken, Egg-Hen, Apple, Banana, Brinjal, Carrot, Ginger, Cauliflower, Chili Green, Potato, Onion, Tomato, Cumin seed/Jira, Supari, Casual Wear, Canvas Shoes, Utensil, Medicine ayurvedic, etc. are responsible for the rise in index.

However, it explained that this increase was largely checked by Mustard Oil, Palm Oil, Sunflower Oil, Coconut Oil, Lemon, Mango, Kerosene Oil, etc., putting downward pressure on the index.

At the centre level, Angul-Talchar recorded a maximum increase of 8.5 points, followed by Raipur and Labac-Silchar with 6.8 and 6.3 points, respectively. Among others, 3 centres recorded an increase between 5 to 5.9 points, 2 centres between 4 to 4.9 points, 10 centres between 3 to 3.9 points, 11 centres between 2 to 2.9 points, 28 centres between 1 to 1.9 points and 26 centres between 0.1 to 0.9 points.

On the contrary, Mungel-Jamalpur recorded a maximum decrease of 1.1 points. Among others, 4 centres recorded a decrease between 0.1 to 0.9 points, it stated.

The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.

The index is compiled for 88 centres and All-India and is released on the last working day of the succeeding month.