Consumer price Inflation for industrial workers rises to 5.63% in August
01 October 2020
Consumer price inflation for industrial workers, based on the consumer price index for all items stood at 5.63 per cent for August 2020 compared to 5.33 per cent in the previous month and 6.31 per cent during the corresponding month of the previous year.
Food price inflation also stood higher at 6.67 per cent in August 2020 against 6.38 per cent of the previous month and 5.10 per cent during the corresponding month a year ago.
Consumer price index for industrial workers is based on 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, a release by the Labour Bureau attached to the ministry of labour and employment stated.
Consumer price inflation rate for industrial workers for August 2020, based on the All-India Consumer Price Index, 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, onion, brinjal, carrot, French beans, gourd, 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 lower prices of wheat, wheat atta, fish, 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 each 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. For the remaining 15 centres indices remained stationary.
The indices of 31 centres are above all-India Index and 47 centres indices are below national average.