Retail price inflation for industrial workers edges up to 4.5% in October, Retail News, ET Retail

Retail price inflation for industrial workers edged up to 4.5 percent in October from 4.41 percent in September. “Year-over-year inflation for the month stood at 4.50 percent compared to 4.41 percent for the previous month and 5.91 percent in the corresponding month (October 2020) a year earlier,” the Ministry of Labor said in a statement.

Food inflation stood at 2.20% in October 2021 compared to 2.26% the previous month and 8.21% in the corresponding month of October 2020 a year ago.

The CPI-IW (Consumer Price Index – Industrial Workers) for all of India for October 2021 rose 1.6 points to 124.9 points. It was 123.3 points in September 2020.

On a month-to-month basis, it increased 1.30 percent from the previous month compared to an increase of 1.19 percent recorded between the corresponding months a year ago.

The maximum upward pressure on the current index came from the food and drink group, contributing 1.31 percentage points to the total change. At the item level, mustard oil, tomato, onion, brinjal, cabbage, cauliflower, scapula, peas, potato, cooking gas and gasoline for vehicle are responsible for the rise in the index.

However, this increase was largely curbed by moong dal, fresh fish, apples, grapes, oranges and ginger, putting downward pressure on the index.

DPS Negi, senior labor and employment adviser and chief labor commissioner, said in the statement that at central level, Udham Singh Nagar registered a maximum increase of 5.8 points, followed by Ramgarh and Biswanath- Chariali with 4.6 points and 4.0 points respectively.

Among others, five centers observed an increase in the range of 3-3.9 points, 22 centers in 2-2.9 points, 39 centers between 1 and 1.9 points and 16 centers between 0.1 and 0.9 point. Conversely, Ludhiana recorded a maximum drop of 0.3 points, followed by Idukki and Darjeeling with 0.2 points each.

The Labor Office, an office attached to the Ministry of Labor and Employment, compiles the IPC-IW on a monthly basis based on retail prices collected from 317 markets in 88 major industrial centers across the country.

The index is compiled for 88 centers and for all of India, and is published on the last working day of the following month.

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