Consumer Price Index for Industrial Workers (CPI-IW) – August, 2020
The Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of the retail prices of selected items collected from 289 markets spread over 78 industrially important centres in the country. The index is compiled for 78 centres and All-India and is released on the last working day of succeeding month. The index for the month of August, 2020 is being released in this press release.
The All-India CPI-IW for August, 2020 increased by 2 points and stood at 338 (three hundred and thirty eight). On 1-month percentage change, it increased by (+) 0.60 per cent between July and August, 2020 compared to (+) 0.31 per cent increase between corresponding months of previous year.
The maximum upward pressure in current index came from Food group contributing (+) 1.14 percentage points to the total change. At item level, Rice, Mustard Oil, Milk (Buffalo), Chillies Green, Onion, Brinjal, Carrot, French Bean, Gourd, Green Coriander Leaves, Lady Finger, Palak, Parval, Potato, Banana, Mango (Ripe), Tea (Readymade), Flowers/Flower Garlands, etc. are responsible for the increase in index. However, this increase was checked by Wheat, Wheat Atta, Fish Fresh, Goat Meat, Poultry (Chicken), Tomato, Guava, etc., putting downward pressure on the index.
At centre level, Coimbatore recorded the maximum increase of 9 points followed by Salem (7 points) and Madurai (6 points). Among others, 5 points increase was observed in 3 centres, 4 points in another 3 centres, 3 points in 12 centres, 2 points in 14 centres and 1 point in 16 centres. On the contrary, Labac-Silchar recorded the maximum decrease of 4 points. Among others, 2 points decrease was observed in 3 centres and 1 point in 8 centres. Rest of 15 centres’ indices remained stationary.
The indices of 31 centres are above All-India Index and 47 centres’ indices are below national average.
Year-on-year inflation based on all-items stood at 5.63 per cent for August, 2020 as compared to 5.33 per cent for the previous month and 6.31 per cent during the corresponding month of the previous year. Similarly, Food inflation stood at 6.67 per cent against 6.38 per cent of the previous month and 5.10 per cent during the corresponding month a year ago.