Retail inflation for industrial workers rose marginally to 4.98% in November: Gov
According to the statement, the year-on-year inflation for the month stood at 4.98 percent in November, compared to 4.45 percent in the previous month (October 2023) and 5.41 percent in the corresponding month (November 2022) a year earlier.
Retail inflation for industrial workers rose marginally to 4.98 percent in November from 4.45 percent in October this year, mainly due to higher prices of certain food products.
Food inflation stood at 7.95 percent, up from 6.27 percent in the previous month (October 2023) and 4.30 percent in the corresponding month (November 2022) a year ago, a statement from the Labor Ministry said.
According to the statement, the year-on-year inflation for the month stood at 4.98 percent in November, compared to 4.45 percent in the previous month (October 2023) and 5.41 percent in the corresponding month (November 2022) a year earlier.
The All-India CPI-IW (Consumer Price Index for Industrial Workers) for November 2023 rose 0.7 points to stand at 139.1 points.
The CPI-IW was 138.4 points in October 2023.
Based on one-month percentage change, the interest rate increased by 0.51 percent from the previous month, while remaining stationary between the corresponding month of a year ago, the statement said.
The maximum upward pressure in the current index came from the Food and Beverages group, which contributed 0.65 percentage points to the total change.
At item level: Rice, Wheat, Wheat Atta, Jowar, Arhar Dal/Tur Dal, Urd Dal, Eggs-chicken, Gingelly oil, Coconut fresh with pulp, Carrot, Drumstick, String beans, Garlic, Lady's finger, Onion, Tomato, sugar white, cumin seeds/Jira, cooked meals, Zarda/kimam/Surti/Gutka, tobacco leaves, tailoring charges, readymade trousers, leather sandal/chappal/slippers, electricity charges (domestic), book school/ITI, Tuition fees and other charges-College, etc .are responsible for the increase in the index.
However, this increase was largely held back by fresh fish, poultry/chicken, soybean oil, sunflower oil, apple, banana, grapes, orange, capsicum, cauliflower, green chillies, ginger, lemon, peas, allopathic medicines, etc., creating a downward pressure exerted. on the index.
At the intermediate level, Tirunelveli recorded a maximum increase of 4.1 points. Among others, 3 centers recorded an increase between 3 and 3.9 points, 5 centers between 2 and 2.9 points, 19 centers between 1 and 1.9 points and 36 centers between 0.1 and 0.9 points.
On the contrary, Gurugram recorded a maximum decline of 1.5 points, followed by Ahmedabad and Kollam with 1.0 points each.
Eighteen centers, among others, recorded a decrease between 0.1 and 0.9 points. The rest of the indices from the three centers remained stationary.
The Labor Bureau, an office attached to the Ministry of Labor and Employment, compiles the Consumer Price Index for Industrial Workers every month based on retail prices collected from 317 markets across 88 industrially important centers in the country.
The index is compiled for 88 centers and all over India and is published on the last working day of the following month.
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First print: December 29, 2023 | 8:26 PM IST