High wage pressure to stay in sync with high inflation
Updated: Apr 21, 2014 02:16:13pm
New Delhi, Apr 21 (KNN) The annual inflation based on the Consumer Price Index (CPI)- industrial workers and rural labour increased to 8.38 per cent and 8.51 per cent in March from 8.14 per cent and 8.27 per cent in February respectively, sending a clear signal that the wage pressure from the two segments will continue to increase.
CPI inflation data represents changes in prices of all goods and services purchased for consumption by urban households. A CPI can be used to index (adjust for the effect of inflation) the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values.
Similarly, the inflation based on food index of CPI-AL and CPI-RL is 7.55 per cent and 7.53 per cent respectively during March, 2014.
“The rise/fall in index varied from State to State. In case of Agricultural Labourers, it recorded an increase between 1 to 17 points in 19 States and a decrease of 4 points in 1 State. Haryana with 847 points topped the index table whereas Himachal Pradesh with the index level of 629 points stood at the bottom,” said the Ministry of Labour and Employment.
In case of Rural Labourers, it recorded an increase between 1 to 15 points in 19 States and a decrease of 4 points in 1 State. Haryana with 840 points topped the index table whereas Himachal Pradesh State with the index level of 663 points stood at the bottom, it added.
The Consumer Price Index Numbers for Agricultural and Rural Labourers in respect of Tripura State registered the maximum increase of 17 points and 15 points respectively mainly due to increase in the prices of pulses, mustard oil, fish fresh/dry, eggs, milk, mixed spices, vegetables and fruits, sugar, supari, dhoti cotton mill, saree cotton mill and barber charges.
On the other hand, the Consumer Price Index Numbers for Agricultural and Rural Labourers in respect of Orissa State registered a decrease of 4 points each mainly due to decrease in the prices of chira, chillies green, vegtable and fruits, pan leaf and aspro. (KNN/SD)
CPI inflation data represents changes in prices of all goods and services purchased for consumption by urban households. A CPI can be used to index (adjust for the effect of inflation) the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values.
Similarly, the inflation based on food index of CPI-AL and CPI-RL is 7.55 per cent and 7.53 per cent respectively during March, 2014.
“The rise/fall in index varied from State to State. In case of Agricultural Labourers, it recorded an increase between 1 to 17 points in 19 States and a decrease of 4 points in 1 State. Haryana with 847 points topped the index table whereas Himachal Pradesh with the index level of 629 points stood at the bottom,” said the Ministry of Labour and Employment.
In case of Rural Labourers, it recorded an increase between 1 to 15 points in 19 States and a decrease of 4 points in 1 State. Haryana with 840 points topped the index table whereas Himachal Pradesh State with the index level of 663 points stood at the bottom, it added.
The Consumer Price Index Numbers for Agricultural and Rural Labourers in respect of Tripura State registered the maximum increase of 17 points and 15 points respectively mainly due to increase in the prices of pulses, mustard oil, fish fresh/dry, eggs, milk, mixed spices, vegetables and fruits, sugar, supari, dhoti cotton mill, saree cotton mill and barber charges.
On the other hand, the Consumer Price Index Numbers for Agricultural and Rural Labourers in respect of Orissa State registered a decrease of 4 points each mainly due to decrease in the prices of chira, chillies green, vegtable and fruits, pan leaf and aspro. (KNN/SD)
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