New Delhi [India], Aug 31 (ANI): Retail inflation for industrial workers slowed marginally to 5.33 per cent in July compared to 5.98 per cent in the same month last year due to lower prices of certain food items, the government said on Monday.
The Consumer Price Index for Industrial Workers (CPI-IW) is a benchmark for working out dearness allowance for the government employees and pensioners.
“The year-on-year inflation based on all-items stood at 5.33 per cent for July as compared to 5.06 per cent for June and 5.98 per cent during July 2019,” said a statement issued by the Ministry of Labour and Employment.
Minister of State Santosh Gangwar said the increase in CPI-IW will have a positive effect on wages and salaries of industrial workers engaged in organised sector besides government employees and pensioners.
He said the rise in annual inflation is mainly due to hike in house rent and items like potato, tomato, medicine, bus fare and petrol.
The food inflation stood at 6.38 per cent in July, compared to 5.49 per cent in the previous month and 4.78 per cent during the same period a year ago, it added.
The All-India CPI-IW for July increased by 4 points to 336. On one-month percentage change, it increased by 1.2 per cent between June and July compared to 0.95 per cent rise in the same period of the previous year.
To Listen to this News click on the play button.
