Retail Inflation

Retail inflation for farm workers and rural labourers eased to 5.96 per cent and 6 per cent, respectively, in October from 6.36 per cent and 6.39 per cent in September. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) registered an increase of 11 points and 10 points, respectively, in October 2024, reaching levels of 1,315 and 1,326, a labour ministry statement said. According to the statement, the CPI-AL and CPI-RL were at 1,304 points and 1,316 points, respectively, in September 2024. "The year-on-year inflation rates based on CPI-AL and CPI-RL for the month of October 2024 were recorded at 5.96 per cent and 6.00 per cent, respectively, compared to 7.08 per cent and 6.92 per cent in October 2023. The corresponding figures for September 2024 were 6.36 per cent for CPI-AL and 6.39 per cent for CPI-RL," it said.

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The retail inflation is projected to average 4.5 per cent in 2024-25 and align with the target on a durable basis by 2025-26, RBI deputy governor Michael Debabrata Patra has said at a conference here. The government has tasked the Reserve Bank of India to ensure that consumer price index (CPI) based retail inflation at 4 per cent with a tolerance band of +/- 2 per cent around it. The inflation has remained below 6 per cent in the last three months. Retail inflation is projected to average 4.5 per cent in 2024-25 before aligning with the target on a durable basis in 2025-26. Speaking at the High-Level Conference "Central Banking at Crossroads" organised by the Reserve Bank of India as a part of the commemoration of its 90th year on Monday, Patra also stressed that the Indian experience is unique in view of the incidence of repetitive shocks to food and fuel prices, which challenged the conduct of monetary policy. In India, price stability is a shared responsibility under which the

Food items, especially vegetables and other perishables, which make up a significant share of overall household spending in the country, saw an uptick in prices

Retail inflation for industrial workers inched up marginally to 2.44 per cent in August against 2.15 per cent in July this year. The All-India CPI-IW (Consumer Price Index-Industrial Workers) for August 2024 decreased by 0.1 points and stood at 142.6 points, a labour ministry statement said. According to the statement, the CPI-IW was 142.7 in July this year. "Year-on-year inflation for the month of August 2024 stood at 2.44 per cent as compared to 6.91 per cent in August 2023," it said. Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.

The data released by NSO on Thursday showed that food inflation rose slightly to 5.66 per cent from 5.42 per cent in July

Retail inflation rates for farm and rural workers eased to 6.17 per cent and 6.20 per cent, respectively, in July. The retail inflation rates for farm and rural workers were 7.02 per cent and 7.04 per cent, respectively, in June this year. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and for rural labourers (CPI-RL) registered an increase of 10 points each in July, reaching 1,290 and 1,302, respectively, a labour ministry statement said. The CPI-AL and CPI-RL were 1,280 points and 1,292 points, respectively, a year ago. According to the statement, year-on-year inflation rates based on CPI-AL and CPI RL for July were recorded at 6.17 per cent and 6.20 per cent, compared to 7.43 per cent and 7.26 per cent in July, 2023. The corresponding figures for June 2024 were 7.02 per cent for CPI-AL and 7.04 per cent for CPI-RL.

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Retail inflation fell below the Reserve Bank of India's target of 4 per cent largely due to the high-base effect, suggesting the slower pace of price rises was temporary

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Retail inflation for industrial workers slipped to 3.67 per cent in June from 3.86 per cent in the previous month this year mainly due to lower prices of certain food items. "Year-on-year inflation for the month of June 2024 moderated to 3.67 per cent as compared to 5.57 per cent in June 2023," a Labour Ministry statement said. The All-India Consumer Price Index for Industrial Workers CPI-IW for June 2024 was at 141.4 points against 139.9 points in May 2024. Food and Beverages Group under the CPI-IW was at 148.7 points in June 2024 against 145.2 points in May this year. The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.

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Retail inflation for industrial workers eased to 3.86 per cent in May compared to 4.42 per cent in the same month a year ago. The Consumer Price Index-Industrial Workers (CPI-IW) was 3.87 per cent in April 2024, a labour ministry statement said. According to the statement, year-on-year inflation for May 2024 moderated to 3.86 per cent against 4.42 per cent in May 2023. The All-India CPI-IW for May 2024 increased by 0.5 points and stood at 139.9 points. It was 139.4 points in April 2024. The food and beverages group increased to 145.2 points in May from 143.4 points in April this year. The fuel & light segment dipped to 149.5 points in May from 152.8 points in April 2024. The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.

The government has bought nearly 71,000 tonnes of onion so far this year for buffer stock, out of the total target of procuring 5 lakh tonnes for price stabilisation and it expects retail prices to ease with the progress of monsoon over most parts of the country. According to data compiled by the department of consumer affairs, the all-India average onion retail prices stood at Rs 38.67 per kg on Friday, while the modal price was Rs 40 per kg. Till June 20th, the Centre has procured 70,987 tonnes of onion, as against 74,071 tonnes procured in the same period last year, a senior official in the department of consumer affairs said. "The pace of onion procurement for price stabilisation buffer this year is largely comparable with last year, despite about 20 per cent decline in estimated rabi production," the official said, adding that the government is on course to achieve targeted procurement of 5 lakh tonnes for price stabilisation. The government will exercise the option of holding

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