CPI for Industrial workers surged marginally, inflation declined to 3.67% from 3.86%

The Consumer Price Index for industrial workers surged marginally in June by 1.5 points to 141.4 however, the consumer price inflation for industrial workers declined marginally to 3.67 per cent in June from 3.86 per cent in May 2024.

According to the data released by the Ministry of Labour & Employment on Tuesday, the inflation also moderated year-on-year in June 2024 to 3.67 per cent compared to 5.57 per cent in June 2023.

The ministry releases the Consumer Price Index for Industrial Workers every month based on retail prices collected from 317 markets spread over 88 industrially important centres in the country.

The data indicated that the highest surge in the index for June was recorded in Food & Beverages, which increased from 145.2 in May 2024 to 148.7 in June. The Clothing and footwear index also surged marginally.

Earlier, the All-India Consumer Price Index-Industrial Workers (CPI-IW) for May increased by 0.5 points to reach 139.9. 

Wholesale food prices increased month-on-month in May, with official data showing that the Wholesale Price Index for food rose from 5.52 per cent in April to 7.40 per cent in May.

However, the data suggests that on a year-on-year (y/y) basis, inflation for May moderated to 3.86 per cent compared to 4.42 per cent in May of the previous year. 

During April of the current year, the All-India CPI-IW increased by 0.5 points and stood at 139.4.

Inflation on a year-over-year basis for April 2024 stood at 3.87 per cent compared to 5.09 per cent in April 2023, according to the official data from the ministry.