Retail inflation for industrial workers rises to 5.57 pc in June

Retail inflation for industrial workers rose to 5.57 percent in June, mainly due to the rising prices of certain food items.

''Year-on-year inflation for the month stood at 5.57 percent compared to 5.24 percent for the previous month and 5.06 percent during the corresponding month a year before,'' a labor ministry statement said.

According to the statement, food inflation stood at 5.61 percent against 5.26 percent in May 2021 and 5.49 percent in June 2020.

The All-India CPI-IW (Consumer Price Index for Industrial Workers) for June 2021 increased by 1.1 points and stood at 121.7 points.

On one-month percentage change, it increased by 0.91 percent concerning the previous month, compared to a rise of 0.61 percent recorded between corresponding months a year ago.

The maximum upward pressure in the current index came from the food & beverages group contributing 0.72 percentage points to the total change. At item level, rice, fish, poultry/chicken, eggs, edible oil, apple, banana, brinjal, carrot, onion, potato, and tomato, among others, saw the price rise. Electricity, kerosene oil, barber/beautician charges, doctor's/surgeon's fee and petrol too contributed to the rise in the index.

However, this increase was checked by items like arhar dal, coconut fresh with pulp, mango, pomegranate, watermelon, lemon, and tamarind, which put downward pressure on the index.

At the center level, Shillong recorded a maximum increase of 6.2 points, followed by Puducherry and Bhopal with 3.5 points and 3.1 points, respectively. Among others, 13 centers observed an increase between 2 to 2.7 points, 30 centers between 1 to 1.9 points, and 32 centers between 0.1 to 0.9 points. On the other hand, Indore recorded a maximum decrease of 1.1 points.

Among others, seven centers observed a decline between 0.1 to 0.7 points. There was no change in the two centers.

Director-General Labour Bureau D P S Negi said, ''The rise in Index during June 2021 is in line with all other consumer price indices compiled and released by different agencies in the country and the rise in prices of Food & Beverages and Fuel items are responsible for the increase in index.'' Negi also said the increase in wages will provide some respite to working-class families who have witnessed many hardships during the lockdown period.

The CPI-IW is primarily used to regulate the dear allowance of government employees and workers in industrial sectors. It is also used in the fixation and revision of minimum wages in scheduled employments, besides measuring the inflation in retail prices.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)