New Delhi, December 30: Retail inflation for industrial workers eased to 5.41 per cent in November compared to 6.08 per cent in October this year mainly due lower prices of certain food items.
“Year-on-year inflation for the month stood at 5.41 per cent compared to 6.08 per cent for the previous month (October 2022) and 4.84 per cent during the corresponding month (November 2021) a year before,” a Labour Bureau statement said. Interest Rates Hike on NSC, Post Office Deposits by 1.1 BPS; No Change in Public Provident Fund and Girl Child Savings Scheme Rate.
Food inflation stood at 4.30 per cent in November 2022 against 6.52 per cent of the previous month (October 2022) and 3.40 per cent during the corresponding month (November 2021) a year ago. The All-India CPI-IW (Consumer Price Index-Industrial Workers for November, 2022 remained stationary at 132.5 points compared to October 2022.
The maximum upward pressure in current index came from Miscellaneous group contributing 0.21 percentage points to the total change. At item level, wheat, wheat atta, buffalo milk, cow milk, dairy milk, eggs hen, sunflower oil, onion, chillies dry, cooked meal, doctar’s/surgon’s fee, hospital/nursing home charges and bus fare etc. are responsible for the rise in index.
However, it stated that this increase was largely checked by apple, banana, orange, brinjal, cabbage, carrot, cauliflower, cucumber, gourd, lady finger and tomato etc. putting downward pressure on the index. Govt Hikes Interest Rates on NSC, Post Office Term Deposits, Senior Citizen Savings Scheme.
At centre level, Korba recorded a maximum increase of 4.4 points followed by Chhindwara with 3.0 points. Among others, 2 centres recorded increase between 2 to 2.9 points, 8 centres between 1 to 1.9 points and 29 centres between 0.1 to 0.9 points.
On the contrary, Coonor and Solapur recorded a maximum decrease of 2.2 points each followed by Raipur with 2.0 points. Among others, 12 centers recorded decrease between 1 to 1.9 points and 28 centres between 0.1 to 0.9 points. Rest of four centers index remained stationary.
The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling 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.
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