Retail Inflation For Industrial Workers Reaches 6.16%

Retail Inflation

Due to lower food and fuel prices, industrial employees’ retail inflation dropped to 6.16 per cent in June 2022 from 6.97 per cent in May 2022. Inflation for the month was 6.16 per cent year over year, down from 6.97 per cent in the previous month (May 2022) and 5.57 per cent in the same month a year prior (August 2022), respectively. 

Consumer Price Index for Industrial Workers for All of India (CPI-IW) for June 2022 increased by 0.2 points to 129.2 points. In May, the CPI-IW reached 129 points. The Food & Beverages group contributed 0.20 percentage points to the overall change, exerting the greatest upward pressure on the current index.

According to reports, the price of vegetables, groceries, cooking gas, kerosene oil, domestic electricity, and other items is on the rise. The index is created for 88 centres as well as the entire country of India and published on the last working day of the next month. Amritsar and Tripura came in second and third with increases of 2.2 points and 2 points and Puducherry Center saw the most growth of 2.6 points. 33 centres saw increases between 0.1 and 0.9 points, while 15 centres saw increases between 1 and 1.9 points.

Sangrur, on the other hand, saw a maximum drop of 2.4 points. 25 centres were between 0.1 and 0.9 points, and five centres saw a decline of between 1-1.9 points. The indices for the remaining 6 centres remained constant. The CPI-IW has been compiled each month by the Labour Bureau, an associated office of the Ministry of Labour & Employment, using retail prices gathered from 317 markets.