The Labour Bureau, an attached office of the M/o Labour and Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of the retail prices of selected items collected from 289 markets spread over 78 industrially important centres in the country. The index is compiled for 78 centres and All-India and is released on the last working day of succeeding month. The index for the month of June, 2020 is being released in this press release.
The All-India CPI-IW for June, 2020 increased by 2 points and stood at 332 (three hundred and thirty two). On 1-month percentage change, it increased by (+) 0.61 per cent between May and June, 2020 compared to (+) 0.64 per cent increase between corresponding months of previous year.
The maximum upward pressure in current index came from Food group contributing (+) 1.65 percentage points to the total change. At item level, Rice, Groundnut Oil, Fish Fresh, Goat Meat, Poultry (Chicken), Milk (Buffalo), Brinjal, Cauliflower, Green Coriander Leaves, Potato, Tomato, Refined Liquor, Cooking Gas, Petrol, etc. are responsible for the increase in index. However, this increase was checked by Wheat Atta, Arhar Dal, Garlic, Onion, Arum, Coconut, Lady’s Finger, Lemon, Mango, Kerosene Oil, etc., putting downward pressure on the index.
At centre level, Jharia recorded the maximum increase of 9 points. Among others, 8 points increase was observed in 3 centres, 7 points in 2 centres, 6 points in 3 centres, 5 points in 7 centres, 4 points in 12 centres, 3 points in 7 centres, 2 points in 10 centres and 1 point in 12 centres. On the contrary, Ranchi-Hatia recorded the maximum decrease of 8 points. Among others, 3 points decrease was observed in 5 centres, 2 points in 2 centres and 1 point in 1 centre. Rest of 12 centres’ indices remained stationary.
The indices of 31 centres are above All-India Index and 45 centres’ indices are below national average. The indices of Chhindwara and Jalandhar centres remained at par with All-India Index.
Year-on-year inflation based on all-items stood at 5.06 per cent for June, 2020 as compared to 5.10 per cent for the previous month and 8.59 per cent during the corresponding month of the previous year. Similarly, Food inflation stood at 5.49 per cent against 5.88 per cent of the previous month and 5.47 per cent during the corresponding month a year ago.
Y-o-Y Inflation based on CPI-IW (Food and General Indices)
All-India Group-wise CPI-IW
|Sr. No.||Groups||June, 2019||May, 2020||June, 2020|
|II||Pan, Supari, Tobacco & Intoxicants||389||401||404|
|III||Fuel & Light||277||295||297|
|V||Clothing, Bedding & Footwear||225||229||229|
CPI-IW: Food and General Indices
Speaking about CPI-IW for June, 2020 Santosh Gangwar, Minister of State (I/C) for Labour and Employment the increase in CPI-IW will have a positive effect on wages/salaries of industrial workers engaged in organized sector. He added that the moderation in annual inflation is mainly due to fall in prices witnessed in Pulses & products, Milk & products and Condiments & Spices.
DPS Negi, Director General of Labour Bureau while releasing the index said “The rise in index is a positive but definitive indication of revival of economy to pre-corona period due to increased consumption expenditure.”