New Delhi: As per the data released by the Union Ministry of Labour, the retail inflation for farm workers and rural labourers surged to 6.60% and 6.82%, respectively, in July. The rise in the rate was due to increase in prices of rice, wheat-atta, bajra, pulses, milk, fish fresh, onion, chillies green/dry, ginger, mixed spices, vegetables & fruits, tea readymade, etc.In June retail inflation for farm and rural workers stood at 6.43% and 6.76% respectively.
Food inflation stood at 5.38% and 5.44% in July. It was at 5.09% and 5.16% in June. The All-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers for July, 2022 increased by 6 points each to stand at 1131 and 1143 points respectively.
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The retail inflation is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. Consumer Price Index (CPI) is an index measuring retail inflation in the economy by collecting the change in prices of most common goods and services used by consumers. In India, there are four consumer price index numbers:CPI for Industrial Workers (IW)
CPI for Agricultural Labourers (AL)
CPI for Rural Labourers (RL) and
CPI for Urban Non-Manual Employees (UNME).
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