CPI-IW Sees Marginal Dip In August 2024, Inflation Declines Year-on-Year
This decline reflects a cooling inflationary trend, contributing to overall economic stability in the country
The Labour Bureau has reported a slight decline in the All-India Consumer Price Index for Industrial Workers (CPI-IW) for August 2024, decreasing by 0.1 point to stand at 142.6. Year-on-year inflation for the month also dropped significantly, from 6.91 per cent in August 2023 to 2.44 per cent in 2024.
Among different categories, "Food & Beverages" saw a notable decrease from 150.4 in July 2024 to 149.7 in August 2024. The index for "Clothing & Footwear" increased from 144.4 to 145.0, while "Fuel & Light" slightly rose to 148.9 from 148.8. Other categories, like "Pan, Supari, Tobacco & Intoxicants" and "Housing," remained relatively stable.
The CPI-IW, compiled by the Labour Bureau using retail prices from 317 markets across 88 industrial hubs, remains an essential indicator for evaluating the cost of living for industrial workers in India.
This decline reflects a cooling inflationary trend, contributing to overall economic stability in the country.
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