Retail inflation for industrial workers rises to 5.35% in March

Retail inflation for industrial workers rose to 5.35 per cent in March from 5.04 per cent in February this year, mainly due to higher prices of certain food items.

"Year-on-year inflation for the month stood at 5.35 per cent compared to 5.04 per cent for the previous month (February 2022) and 5.64 per cent during the corresponding month (March 2021) a year before," a labour ministry statement said.

Similarly, it stated that food inflation stood at 6.27 per cent against 5.09 per cent of the previous month and 5.36 per cent during the corresponding month a year ago.

The All-India CPI-IW (consumer price index-industrial workers) for March 2022, increased by 1.0 point to 126 points. It was 125 points in February 2022.

On one-month percentage change, it increased by 0.80 per cent in the previous month compared to an increase of 0.50 per cent recorded between corresponding months a year ago.

The maximum upward pressure in the current index came from Food and Beverages group contributing 0.59 percentage points to the total change.

At item level, Buffalo-Milk, Cow-Milk, Poultry/chicken, Sunflower oil, Soyabean oil, Palm oil, Apple, Ragi, Peas, Radish, Chili green, Lemon, Potato, Mango, Foreign liquor, Coriander, Cumin/Jeera, Tea Leaf, Saree Cotton, Cooking Gas, Petrol, Telephone/ Mobile Charges etc are responsible for the rise in the index.

However, it stated that this increase was largely checked by Onion, Tomato, Kundru, Brinjal, Cabbage, Carrot, Cauliflower, Gourd, Egg-Hen, Watermelon, Grapes, Beat root, etc putting downward pressure on the index.

At centre level, Sangrur recorded a maximum increase of 6.3 points followed by Labac-Silchar and Angul-Talchar with 5.8 and 5.4 points, respectively. Among others, 2 centres recorded an increase between 4 to 4.9 points, 4 centres between 3 to 3.9 points, 8 centres between 2 to 2.9 points, 20 centres between 1 to 1.9 points and 39 centres between 0.1 to 0.9 points. On the contrary, Salem recorded a maximum decrease of 1.1 points.

Among others, 11 centres recorded a decrease between 0.1 to 0.9 points.

The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling 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 and is released on the last working day of the succeeding month.