Retail inflation for industrial workers eases to 6.08 pc in Oct, shows data

Retail inflation for industrial workers rose to 6.08 per cent in October from 6.49 per cent in September 2022 mainly due to lower prices of certain food items, according to the govt data released

Retail inflation for industrial workers rose to 6.08 per cent in October from 6.49 per cent in September 2022 mainly due to lower prices of certain food items, according to the government data released on Wednesday.

"Year-on-year inflation for the month stood at 6.08 per cent compared to 6.49 per cent for the previous month (September) and 4.52 per cent during the corresponding month (October 2021) a year before," a labour ministry statement said.

Similarly, it stated that food inflation stood at 6.52 per cent against 7.76 per cent of the previous month (September, 2022) and 2.20 per cent during the corresponding month (October 2021) a year ago.

The All-India CPI-IW (consumer price index for industrial workers) for October, 2022 increased by 1.2 points and stood at 132.5 points. It was 131.3 points in September 2022.

In terms of one-month percentage change, it increased by 0.91 per cent with respect to previous month compared to an increase of 1.30 per cent recorded between corresponding months a year ago.

The maximum upward pressure in current index came from food & beverages group contributing 0.76 percentage points to the total change.

At item level, rice, wheat, wheat atta, buffalo milk, poultry/chicken, cauliflower, cabbage, onion, potato, tomato, peas, chillies dry, biscuits, vada, idli, dosa, cooked meals, tea cup, doctor's fee etc. are responsible for the rise in index.

However, it stated that this increase was largely checked by apple, banana, fish fresh, palm oil, mustard oil, cotton seed oil, sunflower oil, chillies green, brinjal, orange, french bean, electricity (domestic) etc. putting downward pressure on the index.

At centre level, Ludhiana recorded a maximum increase of 3.6 points.

Among others, 4 centres recorded increase between 3 to 3.4 points, 14 centres between 2 to 2.9 points, 29 centres between 1 to 1.9 points and 25 centres between 0.1 to 0.9 points.

On the contrary, Doom-Dooma Tinsukia and Haldia recorded a maximum decrease of 1.3 points each.

Among others, two centres recorded decrease between 1 and 1.2 points, eight centres between 0.1 and 0.9 points. Rest of three centres' index remained stationary.

The Labour Bureau, an attached office of the Ministry of Labour and Employment, compiles 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 as well as all-India and released on the last working day of succeeding month.