Policy

Food, oil prices ‘feed’ CPI-IW with 121.7 points

Our Bureau Our Bureau. New Delhi | Updated on July 30, 2021

‘Increase in wages will provide some respite to working class families’

The all India Consumer Price Index for Industrial Workers (CPI-IW) for June increased by 1.1 points and stood at 121.7. It increased by 0.91 per cent than May and 0.61 per cent when compared to June 2020. The rising prices of food items, beverages and petroleum products.

Commenting on the index, Senior Labour and Employment Advisor and Chief Labour Commisioner (Central) DPS Negi said, the rise in Index during June 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 and beverages and fuel items are responsible for increase in index.

Also read: Food, fuel prices lift CPI-IW to 120.6 points

“Increase in wages will provide some respite to working class families who have witnessed many hardships during the lockdown period,” Negi added.

Meanwhile, the year-on-year inflation for June stood at 5.57 per cent compared to 5.24 per cent for May and 5.06 per cent during June last year. Food inflation stood at 5.61 per cent against 5.26 per cent of May and 5.49 per cent June, 2020.

The index is on the basis of retail prices collected from 317 markets of 88 industrially important centres.

The food and beverages group contributed 0.72 percentage points to the total change.

Also read:Labour Ministry revises variable dearness allowance for central sphere workers

“At item level, rice, fish fresh, poultry/chicken, eggs-hen, edible oil, apple, banana, brinjal, carrot, cauliflower, french beans, onion, potato, tomato, tea-leaf, electricity domestic, kerosene oil, barber/beautician charges, doctor’s/surgeon’s fee, petrol for vehicle, etc are responsible for the rise in index. However, this increase was largely checked by arhar dal, coconut fresh with pulp, mango, pomegranate/anar, water melon, lemon, tamarind, etc. putting downward pressure on the index,” a release from the Labour Bureau said.

Published on July 30, 2021

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