Categories: Business

retail inflation for farm rural workers eases in May

Photo: GOOGLE

Retail Inflation for rural workers eases

new Delhi. Retail inflation for agricultural and rural laborers declined marginally to 8.4 percent and 8.12 percent, respectively, in May this year from the previous month. The Labor Ministry said this in a statement on Friday. According to the statement, retail inflation based on CPI-AL (agricultural laborers) and CPI-RL (rural laborers) declined to 8.40 per cent and 8.12 per cent respectively in May 2020. In April, it was 8.80 percent and 8.52 percent respectively.

In CPI-L and CPI-RL, if we talk about only food index based inflation, then this rate was 10.40 percent and 10.21 percent respectively. The All India Consumer Price Index data (base year: 1986-87 = 100) for agricultural laborers and rural laborers increased by 5 points and 6 points to 1019 and 1025 respectively in May this year. The rise in the general price index of agricultural laborers and rural laborers was attributed to food items, which grew by 4.44 per cent and 4.70 per cent respectively. Mainly rice, pigeonpea, lentils, groundnut oil, goat meat, poultry, vegetables and fruits etc. increased the prices of food items. The increase / decrease in the index varies from state to state.

In case of agricultural laborers, there has been an increase of 2 to 19 points in 14 states, while it has fallen by 1 to 7 points in five states. It remained stable in Rajasthan. Tamil Nadu topped the index table with 1,208 points while Himachal Pradesh was at the bottom with 788 points. In case of rural laborers, it increased by 1 to 18 points in 15 states while it fell by 1 to 7 points in five states. Tamil Nadu ranked first in the index with 1,194 points. Himachal Pradesh stood at the bottom of the table with 838 points. Karnataka has the highest increase in Consumer Price Index in States in terms of agricultural laborers and rural laborers by 19 points and 18 points respectively. The main reason for this is the increase in rice, jowar ragi, goat meat, poultry, vegetables and fruits, bidi prices and barber fees etc.

On the other hand, the maximum decrease in consumer price index for agricultural laborers and rural laborers was recorded in Bihar. Both fell by 7-7 points there. The main reason for this is the decrease in prices of maize, onion, fruits and vegetables etc. Labor Minister Santosh Gangwar said that the Labor Bureau is releasing retail inflation and other figures in this challenging time, it is commendable. He said that with the increase in economic activity in the coming days, inflation data is likely to improve. The Bureau of Labor is a unit of the Ministry of Labor and Employment. He collects consumer price index data for agricultural laborers and rural laborers every month, taking data from 600 sample villages spread across 20 states. These data are collected individually and collected.

This post was published on June 19, 2020 9:03 pm

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