June 7th 2024.
In April of this year, the retail inflation for industrial workers in India saw a slight decrease, coming in at 3.87%, as compared to 4.2% in March. The Ministry of Labour and Employment has just released the Consumer Price Index for Industrial Workers for the months of February, March, and April of 2024.
According to a statement from the labour ministry, the year-on-year inflation for March of 2024 was at 4.20%, a decrease from 5.79% in March of 2023. Similarly, the year-on-year inflation for April of 2024 was at 3.87%, down from 5.09% in April of 2023. And for February of 2024, the year-on-year inflation stood at 4.90%, a decrease from 6.16% in February of 2023.
The Labour Bureau, which is a part of the Ministry of Labour and Employment, has been diligently compiling the Consumer Price Index for Industrial Workers every month. This index is based on retail prices collected from 317 markets across 88 industrially important centres in the country. And now, the indices for February, March, and April of 2024 have been released in a press release.
In February of 2024, the All-India CPI-IW saw a slight increase of 0.3 point, bringing it to 139.2 points. However, in March of the same year, it decreased by 0.3 point to stand at 138.9 points. And in April of 2024, it increased by 0.5 point to reach 139.4 points. This index is crucial as it is used by the government to determine the dearness allowance for employees and dearness relief for pensioners.
Overall, the retail inflation for industrial workers in India has seen a slight decrease in the past few months. This data is important for the government and various industries to make informed decisions and policies.
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