CPI for Agricultural and Rural Labourers Surges in June 2024

The consumer price inflation for agricultural and rural labourers has soared to over 7% in June 2024, according to the Union Ministry of Labour and Employment. Food and clothing have been primary drivers, while fuel and light inflation saw a decline.

The consumer price inflation (CPI) for agricultural labourers and rural labourers has surged to 7.02 per cent and 7.04 per cent year-on-year respectively in June 2024, according to the latest data from the Union Ministry of Labour and Employment. This marks a continuing upward trend for rural labourers over the past two months. In April, the figure was 6.96 per cent, rising to 7.02 per cent in May, and further escalating to 7.04 per cent in June.

On a month-to-month basis, overall inflation remained stable as the CPI for agricultural labourers was pegged at 7 per cent in May, while it stood at 7.02 per cent for rural labourers. "The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) (Base: 1986-87=100) registered an increase of 11 points each in June 2024, reaching levels of 1280 and 1292," the ministry said.

The primary drivers of this month's inflation for agricultural workers included food and clothing, whereas consumer price inflation for fuel and light witnessed a reduction. Similarly, food-related inflation for rural labourers saw the highest surge in June, even as fuel and light inflation declined.

The CPI-AL and CPI-RL data is compiled every month by the Labour Bureau, a division of the Ministry of Labour and Employment, which collects retail prices from 600 villages across 20 states. In the previous month, the CPI-AL and CPI-RL had recorded a six-point rise, reaching levels of 1269 and 1281, respectively. Point-on-point inflation for CPI-AL was recorded at 7.00 per cent in May 2024, slightly down from 7.03 per cent in April 2024, the official release indicated.

For CPI-RL, the inflation rate was recorded at 7.02 per cent in May 2024, marginally up from 6.96 per cent in April 2024. Comparable figures for May 2023 were 5.99 per cent for CPI-AL and 5.84 per cent for CPI-RL.

(With inputs from agencies.)