DAILY NEWS ANALYSIS

GS-III : Economic Issues Inflation

20 February, 2021
4 Min Read

CPI-Agriculture Labour and CPI-Rural Labour

Consumer Price Index (CPI) for Agricultural Labourers (AL) and Rural Labourers (RL) for the month of January 2021 is decreased.
The major contribution towards the fall in general index of AL and RL came from the fall in prices of pulses, onion, potato, brinjal etc.
The fall/rise in index varied from State to State.

Consumer Price Index

It examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
It is calculated by taking changes in price over time for each item in the predetermined basket of goods and averaging them.
This is done from the perspective of a retail buyer.

Labour Bureau under the Ministry of Labour and Employment compiles the CPI for Industrial Workers (IW), Agricultural Labourer (AL) and Rural Labourer (RL).
Central Statistical Organisation (CSO) under the Ministry of Statistics and Programme Implementation compiles CPI (Rural/ Urban/ Combined).
CPI is adopted as the key measure of retail inflation by the Reserve Bank of India in 2014.

India uses 2012 as the base year for calculating CPI.

Source: TH

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