Retail inflation for agricultural and rural workers has declined to 5.96 per cent and 6.08 per cent in August. In July this year, it was 6.17 per cent and 6.20 per cent. The All India Consumer Price Index for Agricultural Workers (CPI-AL) and Rural Workers (CPI-RL) registered an increase of seven points each in August 2024 and touched the level of 1297 and 1309.
Report published by the government
The CPI-AL and CPI-RL stood at 1,290 points and 1,302 points respectively in July. The Ministry of Labor said in a statement on Friday that the inflation rates based on the CPI-AL and CPI-RL for the month of August were recorded at 5.96 percent and 6.08 percent on an annual basis, while they were 7.37 percent and 6.08 percent respectively. the same period a year ago was 7.12 percent. In July 2024, the CPI-AL was 6.17 percent and the CPI-RL was 6.20 percent.
Now the inflation rate has come down as the Reserve Bank of India raised the repo rates and kept them for over a year. A few days ago, the retail inflation figures were released, which remained below 4 per cent in August. Now the government has also released the wholesale market figures. The inflation rate based on the wholesale price index (WPI inflation rate) declined for the second consecutive month in August. The wholesale inflation rate has fallen for the second consecutive month due to falling prices of vegetables and food items and cheap fuel. It was 1.31 per cent in August.
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Inflation is declining in the country.
Inflation based on the Wholesale Price Index (WPI) also declined in July. In July it was 2.04 percent. While in August last year it was (-) 0.46 percent. Similarly, the inflation rate based on the Consumer Price Index was 3.65 percent in August. While in July 2024 it was 3.60 percent. Compared to August 2023, the retail inflation level declined by about 50 percent as then the inflation was 6.83 percent.
