The Ministry of Labour and Employment has released the latest Consumer Price Index for Industrial Workers (CPI-IW) for May 2024, which serves as a crucial indicator of inflation trends impacting industrial workers across India. Compiled by the Labour Bureau, the index rose marginally by 0.5 points to reach 139.9, reflecting slight cost increases in essential goods and services. This notification was published on June 10, 2024.
Year-on-year inflation for May 2024 was recorded at 3.86%, showing a decline from the previous year’s 4.42%, indicating a moderated pace of price increases over the twelve-month period.
Breaking down the CPI-IW by categories, notable changes include a rise in food and beverages from 143.4 to 145.2 and a decrease in fuel and light from 152.8 to 149.5. Other categories, such as Pan, Supari, Tobacco and Intoxicants, and Miscellaneous, remained relatively stable.
These figures underscore the ongoing economic dynamics affecting industrial workers’ cost of living, highlighting areas of both stability and fluctuation within the broader economic context. The CPI-IW remains a critical tool for policymakers and economists alike in assessing economic health and planning for the future.
