Rapid Fire
Consumer Price Index for Industrial Workers
- 16 Jul 2024
- 1 min read
The Labour Bureau under the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers (CPI-IW) every month.
- Inflation for the month of May, 2024 moderated to 3.86% as compared to 4.42% in May, 2023.
Consumer Price Index for Industrial Workers (CPI-IW):
- The CPI-IW is mainly used for determining dearness allowance (DA) paid to central/state government employees and workers in the industrial sectors besides measuring inflation in retail prices, fixation and revision of minimum wages in scheduled employment.
- The CPI has several sub-groups including food and beverages, fuel and light, housing and clothing, bedding and footwear.
- Four types of CPI are as follows:
- CPI for Industrial Workers (IW).
- CPI for Agricultural Labourer (AL).
- CPI for Rural Labourer (RL).
- CPI (Rural/Urban/Combined) (CPI-C)
- IW, AL, and RL are compiled by the Labour Bureau in the Ministry of Labour and Employment. CPI-C is compiled by the National Statistical Office (NSO) in the Ministry of Statistics and Programme Implementation.
Read more: Consumer Price Index for Industrial Workers
