Retail inflation for industrial workers rises to 5.57% in June


    Retail inflation
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    Retail inflation for industrial workers rises to 5.57% in June

    Retail inflation for industrial workers rose to 5.57 per cent in June, mainly due to rising prices of certain food items. “Year-on-year inflation for the month stood at 5.57 per cent compared to 5.24 per cent for the previous month and 5.06 per cent during the corresponding month a year before,” a labour ministry statement said.

    According to the statement, food inflation stood at 5.61 per cent against 5.26 per cent in May 2021 and 5.49 per cent 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 per cent with respect to the previous month, compared to a rise of 0.61 per cent recorded between corresponding months a year ago.

    The maximum upward pressure in current index came from 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 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 centre level, Shillong recorded maximum increase of 6.2 points, followed by Puducherry and Bhopal with 3.5 points and 3.1 points, respectively.

    Among others, 13 centres observed an increase between 2 to 2.7 points, 30 centres between 1 to 1.9 points and 32 centres between 0.1 to 0.9 points. On the other hand, Indore recorded a maximum decrease of 1.1 points.

    Among others, seven centres observed a decline between 0.1 to 0.7 points. There was no change in two centres. 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 increase in index.”

    Negi also said 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 dearness allowance of government employees and workers in industrial sectors. It is also used in fixation and revision of minimum wages in scheduled employments, besides measuring the inflation in retail prices. 

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