Two Point Increase in consumer price index – AICPI (IW) for July 2015
Two Point Increase in consumer price index – AICPI (IW) for July 2015 – Consumer Price Index (Industrial Workers) for July 2015 released by Labour Ministry.
Labour Ministry has released the All India Consumer Price Index (Industrial Workers) for July 2015. There is two point increase in the index for July 2015.
This two point increase would be surely be impacting the Dearneass Allowance for January 2016. DA for January 2016 is very crucial for 7th Pay Commission Pay and Allowance as the same will be effective from 1st January 2016.
Dearness Allowance with effect from July 2015 is already confirmed to be 119%..
Press release of Labour Bureau for announcing Consumer Price Index (IW) for July 2015 is as follows
No. 5/1/2015- CPI GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT LABOUR BUREAU
DATED: 31st August, 2015
Consumer Price Index for Industrial Workers (CPI-IW) – July, 2015
The All-India CPI-IW for July, 2015 increased by 2 points and pegged at 263 (two hundred and sixty three). On l-month percentage change, it increased by (+) 0.77 per cent between June, 2015 and July, 2015 when compared with the increase of (+) 2.44 per cent between the same two months a year ago.
The maximum upward pressure to the change in current index came from Housing group contributing (+) 1.33 percentage points to the total change. At item level, Wheat Atta, Arhar Dal, Mustard Oil, Onion, Garlic, Tomato, Gourd, Electricity Charges, etc. are responsible for the increase in index. However, this increase was restricted by Rice, Wheat, Coconut Oil, Coconut, Lemon, Sugar, Primary & Secondary School Books, Petrol, etc., putting downward pressure on the index.
The year-on-year inflation measured by monthly CPI-IW stood at 4.37 per cent for July, 2015 as compared to 6.10 per cent for the previous month and 7.23 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 3.21 per cent against 6.67 per cent of the previous month and 8.11 per cent during the corresponding month of the previous year.
At centre level, Haldia reported the highest increase of 19 points followed by Jamshedpur (15 points) and Bhilai (8 points). Among others, 6 points increase was observed in 2 centres, 5 points in 6 centres, 4 points in 7 centres, 3 points in 12 centres, 2 points in 14 centres and 1 point in 9 centres. On the contrary, Quilon centre recorded a maximum decrease of 6 points. Among others, 3 points decrease was observed in 2 centres, 2 points in 4 centres and 1 point in 7 centres. Rest of the 11 centres’ indices remained stationary.
The indices of 34 centres are above All India Index and other 43 centres’ indices are below national average. The index of Vishakhapathnam is at par with All-India index.
The next index of CPI-IW for the month of August, 2015 will be released on Wednesday, 30th September, 2015. The same will also be available on the office website www.labourbureau.gov.in.
Source: Labour Bureau