: CPI for industrial workers increases to 119.6 in March #FinanceIndia #StockMarketNEWS CPI for industrial workers increases to 119. 6 in March New Delhi, May 1 (KNN) All-India Consumer Price Index

@StockMarketNEWS Mon 03 May, 2021

Posted in: #FinanceIndia #StockMarketNEWS

CPI for industrial workers increases to 119.6 in March #FinanceIndia #StockMarketNEWS
CPI for industrial workers increases to 119. 6 in March New Delhi, May 1 (KNN) All-India Consumer Price Index for Industrial Workers (2016=100) for March, 2021 increased to 119. 6 points compared to 119. 0 points for February, 2021, said Ministry of Labour & Employment.

According to an official statement from the Labour ministry, the increase in index is mainly due to items like Cooking Gas, Petrol, Poultry Chicken, Edible Oils, Apple, Tea Leaf, Served & Processed Packaged Food, etc. which experienced an increase in prices.

Inflation for March, 2021 went up to 5. 64 per cent compared to 4. 48 per cent of the previous month. Similarly, Food inflation also rose to 5. 36 per cent from 4. 64 per cent in the previous month. The All-India CPI-IW for March, 2021 increased by 0. 6 points and stood at 119. 6 (one hundred nineteen and point six). On 1-month percentage change, it increased by 0. 50 per cent with respect to the previous month whereas there was a decline of 0. 61 per cent between corresponding months a year ago, the statement added.

The maximum upward pressure in the current index came from the Fuel & Light group contributing 0. 40 percentage points to the total change. It was further supplemented by Miscellaneous groups contributing 0. 15 percentage points to the total rise. At item level, Cooking Gas, Petrol, Poultry Chicken, Edible Oils, Apple, Orange, Tea Leaf, Served & Processed Packaged Food, etc. are responsible for the rise in index. However, this increase was mostly checked by vegetables putting downward pressure on the index.

At centre level, Jamshedpur and Sangrur recorded maximum increase of 3. 0 points each. Among others, 4 centres observed an increase between 2 to 2. 9 points, 22 centres between 1 to 1. 9 points and 45 centres between 0 to 0. 9 points.

‘’On the contrary, Doom-Dooma Tinsukia recorded a maximum decrease of 3. 2 points. Among others, 2 centres observed a decline between 2. 0 to 2. 9 points, another 2 centres between 1 to 1. 9 points and remaining 10 centres between 0 to 0. 9 points’’, the statement said.

Speaking about the latest index, Minister of State (I/C) for Labour and Employment Santosh Gangwar said the rise in index will result in increased wages of the working-class population by way of increase in dearness allowance payable to them.

The rise in inflation reported during March, 2021 is mainly due to rise in prices of Petroleum products and Edible Oils, he added.

“The rise in inflation during March, 2021 has been observed across the board in respect of various price indices released by other Government agencies, said Director General of Labour Bureau, DPS Negi.