New Delhi: As per the data released by the Union Ministry of Labour, the retail inflation for farm workers and rural labourers surged to 6.09% and 6.33 respectively. The point to point rate of inflation based on the CPI-AL (consumer price index for agricultural labourers) and CPI-RL (consumer price index for rural labourers) was at 5.59% and 5.94% in February 2022. The higher prices of certain food items and clothing are the main cause of this rise.
The retail inflation is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. Consumer Price Index (CPI) is an index measuring retail inflation in the economy by collecting the change in prices of most common goods and services used by consumers. In India, there are four consumer price index numbers:
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CPI for Industrial Workers (IW)
CPI for Agricultural Labourers (AL)
CPI for Rural Labourers (RL) and
CPI for Urban Non-Manual Employees (UNME).
The food inflation stood at 4.% and 4.88% in March 2022. It was at 4.48% and 4.45%, respectively, in February 2022. The All-India Consumer Price Index Number for agricultural and rural labourers for March 2022 increased by 3 points each to stand at 1,098 and 1,109 points, respectively.
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