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The All-India Consumer Price Index for Industrial Workers (CPI-IW) for the month of June 2022 increased by 0.2 points and stood at 129.2. The figures were released by the Labour Bureau under the M/o Labour & Employment, responsible for compiling the CPI-IW every month on the basis of retail, prices collected from 317 markets spread over 88 industrially important centres in the country.
The AI CPI-IW data will serve as the basis for the Dearness Allowance rise for the central government employees. Dearness Allowance increases are one of the most-anticipated pieces of news for CG staff. The Dearness allowance beginning in July 2022 will be based on the CPI-IW indexes from July 2021 to June 2022.
The AI CPI-IW for the last twelve months are as given below
|July 2021||122.8||January 2022||125.1|
|August 2021||123.0||February 2022||125.0|
|September 2021||123.3||March 2022||126.0|
|October 2021||124.9||April 2022||127.7|
|November 2021||125.7||May 2022||129.0|
|December 2021||125.4||June 2022||129.2|
With this, we can calculate the Dearness Allowance from July 1, 2022. It is seen that the dearness allowance from July 2022 is 38%, a hike of 4%
For details on how the calculation, check out the page New DA calculation formula as per the AI CPI-IW series with base 2016
To know more about the CPI-IW visit page - Understanding the CPI-IW or Consumer Price Index for Industrial Workers
Also, the picture is becoming clear about the expected Dearness Allowance from January 2023. A further 4% hike can be expected in the DA from January 2023. Check out our calculator at 📈 Expected Dearness Allowance (DA) from January 2023 Calculator