Y-o-Y Inflation based on CPI-IW (Food and General)
New Delhi: The all-India Consumer Price Index for Industrial Workers (2016=100) for January, 2021 decreased by 0.6 points and stood at 118.2 points compared to 118.8 points for December, 2020. In percentage terms, it went down by 0.51% with respect t0 previous month mainly due to Food & Beverages items having a share of 39.17% in the total weight which recorded a fall of 1.92% between these two months.
During the period, decrease in prices of food items such as Rice, Wheat Atta, Arhar Dal, Poultry (Chicken), Eggs-Hen, Banana, Brinjal, Cabbage, Carrot, Cauliflower, Chilies Green, Garlic, Ginger, Onion, Peas, Potato, Tomato, Employees State Insurance Contribution, had greater impact on the decline in index.
However, this decline was checked by Housing and Fuel & Light groups with a contribution of 0.29 &0.22 points respectively with items like House Rent, Cooking Gas, Petrol, putting upward pressure on the index.
Year-on-year inflation for the month stood at 3.15 per cent compared to 3.67 per cent for the previous month and 7.49 per cent during the corresponding month of the previous year. Similarly, Food inflation stood at 2.38 per cent against 2.89 per cent of the previous month and 10.61 per cent during the corresponding month a year ago.
Year-on-year inflation for the month stood at 3.15 per cent compared to 3.67 per cent for the previous month and 7.49 per cent during the corresponding month of the previous year. Similarly, Food inflation stood at 2.38per cent against 2.89per cent of the previous month and 10.61 per cent during the corresponding month a year ago.
Speaking about the latest index, Minister of State (Independent Charge) for Labour and Employment, Santosh Gangwar, said the fall in inflation reported during January, 2021 was mainly due to fall in prices of vegetables observed on account of abundant supply in markets.He said, the fall in inflation would imply more purchasing power in the hands of working class families.
Director General of Labour Bureau, DPS Negi, said, the fall in index and in inflation rate were in line with other price indices compiled and released by other Government agencies.
The next issue of CPI-IW for the month of February, 2021 will be released on Wednesday March 31, 2021.
It may be mentioned that the Labour Bureau, an attached office of the Labour & Employment ministry, 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 and All-India and is released on the last working day of succeeding month.
– global bihari bureau