New Delhi: The retail inflation for farm workers and rural labourers in India fell to 5.96 per cent and 6.08 per cent, respectively, in August. It was at 6.17 per cent and 6.20 per cent recorded in July this year.
The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) registered an increase of 7 points each in August 2024, reaching levels of 1,297 and 1,309, respectively. The CPI-AL and CPI-RL were 1,290 points and 1,302 points, respectively, in July.
‘The year-on-year inflation rates based on CPI-AL and CPI–RL for this month (August 2024) were recorded at 5.96 per cent and 6.08 per cent, compared to 7.37 per cent and 7.12 per cent in August, 2023. The corresponding figures for July, 2024 were 6.17 per cent for CPI-AL and 6.20 per cent for CPI-RL,’ a labour ministry statement said.
In August, India’s retail inflation was 3.65 per cent but remained below the Reserve Bank of India’s (RBI) target of 4 per cent.
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The wholesale price index (WPI)-based inflation in India declined to a 4-month low in August. The wholesale price index (WPI)-based inflation stood at 1.31 per cent on an annual basis in August. It was at 2.04 per cent in July.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India are made after reviewing the CPI.
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