Deciphering the Consumer Price Index: Industrial Workers’ Perspective (February-April 2024)

The Ministry of Labour and Employment, through the Labour Bureau, regularly compiles the Consumer Price Index for Industrial Workers (CPI-IW), providing crucial insights into the economic landscape. In February 2024, the CPI-IW witnessed a marginal uptick of 0.3 points, settling at 139.2. Conversely, March 2024 saw a slight decline of 0.3 points, with the index resting at 138.9. However, April 2024 marked a rebound, with a 0.5-point increase, reaching 139.4. Year-on-year inflation trends reveal a nuanced picture, showcasing February’s inflation at 4.90%, March at 4.20%, and April at 3.87%. These figures offer a comparative analysis against the corresponding periods in 2023, emphasizing evolving economic dynamics. The CPI-IW, reflective of retail prices across 317 markets in 88 industrially significant centers nationwide, serves as a vital barometer for understanding inflationary pressures on industrial workers. This notification was published on June 7, 2024.