Labour Bureau, Ministry of Labour & Employment have announced the the All-India CPI-IW for the month of March, 2013 which rose by 1 point and now stands at 224. On 1-month percentage change, it increased by 0.45 per cent between February and March compared with 1.01 per cent between the same two months a year ago.
Last two months had seen a 2 point growth in the index. With this, the Dearness allowance which is calculated based on the CPI-IW is likely to be 89% plus from July 2013. The index for the months of April, May and June has has to be available, for exact calculation. However even on assuming zero growth in the index, the worst case, the DA will be 89% from July 2013.
The largest upward contribution to the change in current index came from Food group which increased by 0.84 per cent, contributing 0.82 percentage points to the total change. This was followed by Miscellaneous group with 0.53 per cent increase contributing 0.26 percentage points to the change. At item level, largest upward pressure came from Rice, Wheat & Wheat Atta, FishFresh, Goat Meat, Vegetable Green & non-Leafy, Apple, Tea (Readymade), Firewood, Medicine (Allopathic), Private Tuition Fee, Bus Fare, Petrol, etc. However, this was compensated by Mustard Oil, Eggs (Hen), Poultry (Chicken), Onion, Potato and Sugar putting downward pressure on the index.
The year-on-year inflation measured by monthly CPI-IW stood at 11.44 per cent for February, 2013 as compared to 12.06 per cent for the previous month and 8.65 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 13.21 per cent against 14.98 per cent of the previous month and 8.16 per cent during the corresponding month of the previous year.
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