AICPIN for July 2014 – 6 Points increased and stands at 252
The index of Consumer Price for Industrial Workers based on 2001=100 is surged up forward to 252 form the existing point of 246 in the month of July 2014. It rarely happens that six points hike in one month. However, impact of this hike in DA calculation is not much i.e., from 107.25% to 108.47% = 1.22%. Still chances are very less to get double digit in additional DA from Jan 2015. Let’s see what happen in coming months…
The press release of AICPIN for the month of July 2014, which is published by Labour Bureau…
GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT
DATED: the 29th August, 2014
Consumer Price Index for Industrial Workers (CPI-IW) – July, 2014
The All-India CPI-IW for July, 2014 increased by 6 points and pegged at 252 (two hundred and fifty two). On 1-month percentage change, it increased by 2.44 per cent between June, 2014 and July, 2014 when compared with the rise of 1.73 per cent between the same two months a year ago.
The largest upward pressure to the change in current index came from Food group contributing 4.42 percentage points to the total change. The House Rent index further accentuated the overall index by 1.08 percentage points. At item level, Rice, Eggs, Milk, Onion, Chillies Green, Tomato, Potato and other Vegetables & Fruits, Sugar, Tea (Readymade), Pan Finished, Doctors’ Fee, College Fee, Petrol, Rail Fare, etc. are responsible for the increase in index. However, this increase was restricted to some extent by Wheat, Soft Coke, Medicine (Allopathic), etc., putting downward pressure on the index.
The year-on-year inflation measured by monthly CPI-IW stood at 7.23 per cent for July, 2014 as compared to 6.49 per cent for the previous month and 10.85 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 8.11 per cent against 5.88 per cent of the previous month and 14.10 per cent during the corresponding month of the previous year.
At centre level, Nagpur recorded the maximum increase of 12 points followed by Ludhiana (10 points). Among others, 9 points rise was observed in 7 centres, 8 points in 3 centres, 7 points in 9 centres, 6 points in 23 centres, 5 points in 14 centres, 4 points in 10 centres, 3 points in 4 centres, 2 points in 4 centres and I point in 2 centres.
The indices of 35 centres are above and other 41 centres are below national average. The indices of Ernakulam and Varanasi are at par with all-India index.
The next index of CPI-IW for the month of August, 2014 will be released on Tuesday, 30 September, 2014. The same will also be available on the office website www.labourbureau.gov. in.