Retail inflation for industrial workers eases to 4.79% in August

Retail inflation for industrial workers eased to 4.79 per cent in August compared to 5.27% in July this year, mainly due to the lower price of certain food items.

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August retail inflation | retail inflation

Retail inflation for industrial workers eased to 4.79 per cent in August compared to 5.27 per cent in July this year, mainly due to the lower price of certain food items.

“Year-on-year inflation for the month (August 2021) stood at 4.79 per cent compared with 5.27 per cent for the previous month (July 2021) and 5.63 per cent during the corresponding month (August 2020) a year before,” the labour ministry said in a statement.

Similarly, it stated that food inflation stood at 4.83 per cent in August, against 4.91 per cent in the previous month and 6.06 per cent during the corresponding month a year ago.

The All-India CPI-IW (consumer price index-industrial workers) for August 2021 increased by 0.1 point and stood at 123 points.

On a one-month percentage change, it increased 0.16 per cent with respect to the previous month compared to an increase of 0.60 per cent recorded between corresponding months a year ago.

The maximum upward pressure in the current index came from the ‘miscellaneous’ group contributing 0.08 percentage points to the total change.

At the item level, cow milk, dairy milk, mustard oil, palm oil, soyabean oil, almond, sugar-white, tea leaf, cooking gas, hospital/nursing home charges, petrol for vehicle, and toilet soap, are responsible for the rise in the index.

However, this increase was largely checked by rice, eggs (hen), fish fresh, poultry/ chicken, apple, banana, guava, mausami, bitter gourd, cucumber, drum stick, french beans, lady’s finger, onion and potato, putting downward pressure on the index.

At the central level, Ludhiana recorded the highest increase of 3.5 points followed by Jalpaiguri, Guwahati, Jalandhar and Munger-Jamalpur with 2.9 points, 2.6 points, 2.1 points and 2.0 points, respectively. Among others, 11 centres observed an increase between 1 and 1.9 points and 33 centres between 0.1 and 0.9 points.

On the contrary, Coonoor recorded the steepest fall of 5.5 points, followed by Tirunelveli with 2.2 points. Among others, 5 centres observed a decline between 1 and 1.9 points and 26 centres between 0.1 and 0.9 points. The rest of the six centres remained stationary.

D P S Negi, principal advisor under the labour and employment ministry, said in the statement that the All-India Consumer Price Index for Industrial Workers for August 2021 increased to 123 points, compared with 122.8 points for July 2021.

Negi further said the increase observed in the index is mainly due to items like cow milk, dairy milk, mustard oil, palm oil, soyabean oil, almond, sugar-white, tea leaf, cooking gas, hospital/ nursing home charges, petrol for vehicle, and toilet soap, which experienced an increase in prices.

General inflation for August 2021 fell to 4.79 per cent, compared with 5.27 per cent in the previous month. Food inflation also moderated to 4.83 per cent from 4.91 per cent in the previous month, he added.

The labour bureau, an attached office of the labour and employment ministry, 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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