Tuesday, December 7, 2021
BusinessRetail inflation for industrial workers eases to 5.27%

Retail inflation for industrial workers eases to 5.27%

Published: 31st Dec 2020 6:46 pm

New Delhi: Retail inflation for industrial workers eased to 5.27 per cent in November compared to 5.91 per cent in October, mainly due to lower prices of certain food items.”Year-on-year inflation based on all items stood at 5.27 per cent for November, 2020 as compared to 5.91 per cent for the previous month (October) and 8.61 per cent during the corresponding month of the previous year,” a labour ministry statement said.

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It said that the food inflation stood at 7.48 per cent in November as against 8.21 per cent in the previous month. Food inflation was at 9.87 per cent in the year-ago period. The retail inflation measured in terms of all-India CPI-IW (Consumer Price Index for Industrial Workers) for November increased by 0.4 points and stood at 119.9 points.

The maximum upward pressure in the current index came from Food & Beverages group contributing (+) 0.25 percentage points to the total change.At an item level, prices of Rice, Arhar Dal, Fish Fresh, Milk, Mustard Oil, Soyabean Oil, Sunflower Oil, Onion, Potato, Chillies Dry, Tea Leaf and Cooked Meal pushed the index reading higher. However, this increase was checked by fall in prices of Poultry (Chicken), Tomato, Brinjal, Carrot, Cauliflower, Ginger, Gourd, Green Coriander Leaves, Lady Finger, Peas and Orange, among others.

At a centre level, Puducherry recorded the maximum increase of 4 points. Among others, 3-point increase was observed in at 4 centres, 2-point rise at 7 centres and 1 point increase at 30 centres. On the contrary, Guntur, Bhilai, Udham Singh Nagar and Vadodara recorded a maximum decrease of 2 points each. A fall of one point was observed in 17 centres. In rest of the 25 centres, the indices remained stationary.

“The rise in index coupled with fall in annual inflation will have a dual impact in terms of increasing income and purchasing power of the workers. The effect is mainly due to vegetables which had good supply in the market and provided respite to the consumers,” Labour Minister Santosh Gangwar said.

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