Consumer Price Index Dec 2022 Released for Industrial Workers

Every month, the Labour Bureau, a department of the Ministry of Labour & Employment, compiles the Consumer Price Index for Industrial Workers based on retail prices gathered from 317 markets dispersed across 88 of the nation’s major industrial hubs. On the last working day of the next month, the index is compiled for 88 centres and All-India has been released.

In December 2022, the All-India CPI-IW dropped by 0.2 points to 132.3 (one thirty two point three) points. In terms of a 1-month percentage change, it fell by 0.15 percent from the previous month, compared to a drop of 0.24 percent between corresponding months a year earlier.

The maximum downward pressure in current index came from Food & Beverages group contributing 0.52 percentage points to the total change. At item level, Cabbage, Cauliflower, Brinjal, Carrot, Onion, Potato, Tomato, Peas, Garlic, Chilies Green, Apple, Orange, Sunflower Oil, Vanaspati Oil and Poultry/Chicken etc. are responsible for the fall in index. However, this decrease was checked by Rice, Wheat Atta, Wheat, Cow Milk, Fish Fresh, Egg-Hen, Drum stick, Chilies Dry, Cumin Seed/Jira, Turmeric, Tea Leaf, Cooked Meals, ESI Contribution, Medicine Allopathic and Tuition and other fees school/ITI etc. putting upward pressure on the index.

Lucknow and Nasik both experienced a maximum drop of 1.9 points at the centre level. 19 centres reported a reduction of between 1 and 1.8 points, and 37 centres between 0.1 and 0.9 points, among others. Faridabad, on the other hand, saw the largest increase—3.3 points—followed by Tiruneveli and Nagpur, which saw increases of 3.0 and 2.4 points, respectively. Among others, 21 centres between 0.1 and 0.9 points and 4 centres had increases between 1 and 1.7 points. The indexes for the remaining 2 centres stayed constant.

Inflation year over year for the month was 5.50 percent, down from the previous month’s 5.41 percent and the year prior’s corresponding month’s 5.56 percent.

In a similar vein, food inflation was 4.10 percent compared to 4.30 percent last month and 5.93 percent in the same month a year earlier.

Y-o-Y Inflation based on  CPI-IW (Food and General)

All India group-wise CPI-IW for November, 2022- December, 2022

CPI- IW Group Indices

The next issue of CPI-IW for the month of January, 2023 will be released on Tuesday, 28^th February, 2023. The same will also be available on the office website www.labourbureaunew.gov.in.