On October 22, 2024, the Ministry of Labour & Employment (MoLE) released the All-India Consumer Price Index Numbers for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) for September 2024.
Key Highlights:
- Index Increases: Both the CPI-AL and CPI-RL recorded an increase of 7 points in September 2024, reaching 1304 and 1316, respectively (Base Year: 1986-87 = 100).
- Year-on-Year Inflation Rates:
- CPI-AL: The inflation rate for agricultural labourers was recorded at 6.36% in September 2024, a decrease from 6.70% in September 2023.
- CPI-RL: The inflation rate for rural labourers was 6.39%, down from 6.55% in the previous year.
- Comparison with Previous Month:
- In August 2024, the inflation rates were lower, with CPI-AL at 5.96% and CPI-RL at 6.08%.
Analysis
The increase in the Consumer Price Index reflects ongoing economic trends affecting agricultural and rural sectors. The year-on-year decline in inflation rates suggests some easing in price pressures compared to the previous year, although both indices have seen a rise in recent months.
