Powered by: Motilal Oswal
20-01-2024 10:12 AM | Source: Accord Fintech
Retail inflation for farm workers rose to 7.7% in December: Labour ministry

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

The labour ministry has said that retail inflation for farm workers and rural labourers increased marginally to 7.71 per cent and 7.46 per cent in December 2023 compared to 7.37 per cent and 7.13 per cent, respectively, in November due to higher prices of certain food items.

It stated Food inflation stood at 9.95 per cent and 9.80 per cent in December 2023, compared to 9.38 per cent and 9.14 per cent, respectively, in November 2023. Food inflation for farm workers and rural labourers was 5.89 per cent and 5.76 per cent, respectively, in December 2022. According to it, point to point rate of inflation based on the CPI-AL (Consumer Price Index-Agricultural Labourers) and CPI-RL (rural labourers) stood at 7.71 per cent and 7.46 per cent in December 2023 compared to 7.37 per cent and 7.13 per cent, respectively, in November 2023.

It was 6.38 per cent and 6.60 per cent for farm workers and rural labourers, respectively, during December 2022. The All-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers in December 2023 increased by 4 points and 5 points, respectively, to stand at 1,257 and 1,267, respectively. The CPI-AL and CPI-RL were 1,253 points and 1,262 points, respectively, in November 2023.

The major contribution towards the rise in the general index of agricultural and rural labourers came from the food group to the extent of 3.24 and 2.98 points, respectively, mainly due to increase in prices of rice, wheat atta, jowar, bajra, maize, pulses, milk, meat goat, sugar, garlic, etc.