AICPIN for March 2014 and Expected DA from July 2014
The consumer price Index for the Month of March increased by 1 point and pegged at 239. Remaining three months AICPIN are required to figure out exact percentage of Dearness Allowance to be paid from July 2014. As we already worked out three probabilities in the article “Expected dearness allowance from July 2014” , now it seems that AICPIN is moving in upward trend and if it is continued for remaining three months the possible increase in the Rate of Dearness Allowance will be 6% from July 2014
Consumer Price Index Numbers for Industrial Workers (CPI-IW)- March 2014
According to a press release issued by the Labour Bureau, Ministry of Labour & Employment the All-India CPI-IW for March, 2014 increased by 1 points and pegged at 239 (two hundred and thirty nine). On 1-month percentage change, it increased by 0.42 per cent between February, 2014 and March, 2014 compared with the rise of 0.45 per cent between the same two months a year ago.
The largest upward pressure to the change in current index came from Food Group contributing 0.99 percentage points to the total change. At item level, Rice, Wheat, Goat Meat, Milk (Buffalo), Vegetables and Fruit items, etc. are responsible for the increase in index. However, this increase was restricted to some extent by Groundnut Oil, Fish Fresh, Poultry, Eggs (Hen), Onion, etc. putting downward pressure on the index.
The year-on-year inflation measured by monthly CPI-IW stood at 6.70 per cent for March, 2014, as compared to 6.73 per cent for the previous month and 11.44 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 7.50 per cent against 13.21 per cent of the previous month and 14.98 per cent during the corresponding month of the previous year.
At centre level, Bokaro recorded the highest increase of 8 points each followed by Godavarikhani & Chhindwada (7 Points each), Rangapara Tezpur (6 points) and Kanpur & Durgapur (5 points each). Among others, 4 points rise was registered in 7 centres, 3 points in 6 centres, 2 points in 9 centres and 1 points in 22 centres. On the contrary, Quilon and Guwahati reported a decline of 5 points each followed by Coimbatore (3 points), 2 points in 3centres and 1 point in 6 centres. Indices of 16 centres observed no change.
The indices of 36 centres are above All-India Index and other 41 centres’ indices are below national average. The index of Tiruchirapally centre remained at par with all-India index.
The next index of CPI-IW for the month of April, 2014 will be released on Friday, 30 May, 2014. The same will also be available on the office website www.labourbureau.gov.in.