New Delhi: Data rereleased by the Union Ministry of Labour & Employment revealed that the retail inflation for industrial workers eased to 5.79% in March. It was at 6.16% in February 2023. Food inflation stood at 5.02% in March. It was at t 6.13% in the previous month and 6.27% during the corresponding month a year ago. The ministry updated that the lower prices of certain food items is the main reason for this low inflation.
‘ Year-on-year inflation for the month stood at 5.79% compared to 6.16% for the previous month (February 2023) and 5.35% during the corresponding month (March 2022) a year before,’ a statement issued by the Ministry said.
The All-India CPI-IW (Consumer Price Index for Industrial Workers) for March rose 0.6 points and stood at 133.3 points. It was at 132.7 points in February.
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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. The index is released on the last working day of the succeeding month.
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