CPI for industrial workers declines to 6.3% in Feb (YOY) basis
Updated: Apr 01, 2014 01:33:47pm
New Delhi, Apr 1 (KNN) Owing to reduction in prices of food items, consumer price index for industrial workers (CPI-IW) has decreased to 6.73 per cent for February, Year on year (YOY) basis as compared to 7.24 per cent for the previous month and 12.06 per cent during the corresponding month of the previous year.
However, CPI-IW increased by 0.42 per cent in February as compared with the rise of 0.90 per cent between the same two months a year ago, a development which shows slight pressure on wage inflation and adds to the labour cost of industrial units.
“The year-on-year inflation measured by monthly CPI-IW stood at 6.73 per cent for February, 2014, as compared to 7.24 per cent for the previous month and 12.06 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 7.56 per cent against 8.94 per cent of the previous month and 14.98 per cent during the corresponding month of the previous year,” said a press release issued by the Labour Bureau, Ministry of Labour and Employment.
“All-India CPI-IW for February, 2014 increased by 1 points and pegged at 238 (two hundred and thirty Eight). On 1-month percentage change, it increased by 0.42 per cent between January, 2014 and February, 2014 compared with the rise of 0.90 per cent between the same two months a year ago,” the release added.
Similarly, the Food inflation stood at 7.56 per cent against 8.94 per cent of the previous month and 14.98 per cent during the corresponding month of the previous year.
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.
The largest upward pressure to the change in current index came from miscellaneous group contributing 0.34 percentage points to the total change.
At item level, Rice, Wheat, Moong Dal, Fish Fresh, Goat Meat, Milk (Cow and Buffalo), Pure Ghee, Medicine, Barber Charges, etc. are responsible for the increase in index.
However, this increase was restricted to some extent by Arhar Dal, Ground Nut Oil, Onion, Vegetable and Fruit items, Sugar etc. putting downward pressure on the index.
At centre level, Quilon recorded the highest increase of 9 points each followed by Tiruchirapally and Conoor (6 Points each) and Lucknow (5 points). Among others, 4 points rise was registered in 3 centres, 3 points in 2 centres, 2 points in 8 centres and 1 point in 10 centres. On the contrary, Chhindwara reported a decline of 5 points followed by Rourkela and Ajmer (4 points each), 3 points decline was observed in 6 centres, 2 points in 10 centres and 1 point in 12 centres. Rest of the 20 centres’ indices remained stationary.
The indices of 36 centres are above All-India Index and other 42 centres’ indices are below national average. The index of Bhilwara centre remained at par with all-India index. (KNN/SD)
However, CPI-IW increased by 0.42 per cent in February as compared with the rise of 0.90 per cent between the same two months a year ago, a development which shows slight pressure on wage inflation and adds to the labour cost of industrial units.
“The year-on-year inflation measured by monthly CPI-IW stood at 6.73 per cent for February, 2014, as compared to 7.24 per cent for the previous month and 12.06 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 7.56 per cent against 8.94 per cent of the previous month and 14.98 per cent during the corresponding month of the previous year,” said a press release issued by the Labour Bureau, Ministry of Labour and Employment.
“All-India CPI-IW for February, 2014 increased by 1 points and pegged at 238 (two hundred and thirty Eight). On 1-month percentage change, it increased by 0.42 per cent between January, 2014 and February, 2014 compared with the rise of 0.90 per cent between the same two months a year ago,” the release added.
Similarly, the Food inflation stood at 7.56 per cent against 8.94 per cent of the previous month and 14.98 per cent during the corresponding month of the previous year.
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.
The largest upward pressure to the change in current index came from miscellaneous group contributing 0.34 percentage points to the total change.
At item level, Rice, Wheat, Moong Dal, Fish Fresh, Goat Meat, Milk (Cow and Buffalo), Pure Ghee, Medicine, Barber Charges, etc. are responsible for the increase in index.
However, this increase was restricted to some extent by Arhar Dal, Ground Nut Oil, Onion, Vegetable and Fruit items, Sugar etc. putting downward pressure on the index.
At centre level, Quilon recorded the highest increase of 9 points each followed by Tiruchirapally and Conoor (6 Points each) and Lucknow (5 points). Among others, 4 points rise was registered in 3 centres, 3 points in 2 centres, 2 points in 8 centres and 1 point in 10 centres. On the contrary, Chhindwara reported a decline of 5 points followed by Rourkela and Ajmer (4 points each), 3 points decline was observed in 6 centres, 2 points in 10 centres and 1 point in 12 centres. Rest of the 20 centres’ indices remained stationary.
The indices of 36 centres are above All-India Index and other 42 centres’ indices are below national average. The index of Bhilwara centre remained at par with all-India index. (KNN/SD)
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