Retail inflation for factory workers rises to 7.23 pc in July

Retail inflation for factory workers rises to 7.23 pc in July

Retail inflation for factory workers rises to 7.23 pc in July

Retail inflation for industrial workers rose to 7.23 per cent in July compared to 6.49 per cent in June this year mainly due to rise in the price of food items, petrol, rail fare, college fee and house rent.

"The year on year inflation measured by the monthly Consumer Price Index-Industrial Worker (CPI-IW) stood at 7.23 per cent for July 2014 as compared to 6.49 per cent for the previous month and 10.85 per cent during the corresponding month of the previous year," a Labour Ministry statement said.

According to press release, the food inflation stood at 8.11 per cent in July against 5.88 per cent in June and 14.10 per cent in same month of 2013.

The largest upward pressure to change in the current index came from food group contributing 4.42 percentage points to the total change. The house rent index further accentuated the overall CPI-IW by 1.08 percentage points.

At item level, rice, eggs, milk, onion, chillies green, tomato, potato and other vegetables and fruits, sugar, tea, doctor's fee, college fee, petrol, rail fair etc are responsible for the increase in index.

However the increase to index was restricted to some extend by wheat, soft coke, medicine, etc.

The all India CPI-IW for July increased by six points and pegged at 252 points. On one month change basis, it increased by 2.44 per cent between June and July this year when compared with rise of 1.73 per cent between the same two months a year ago.

At the centre level, Nagpur recorded the maximum increase of 12 points followed by Ludhiana at 10 points. Among others nine points rise was observed in seven centres, 8 points in three centres, seven points in nine centres, 6 points in 23 centres, five points in 14 centres, 4 points in 10 centres, three points in four centres, 2 points in four centres and one point in two centres.

The indices of 35 centres are above and other 41 centres are below national average. The indices of Ernakulam and Varanasi are at par with all India index.