Unveiling the Latest Negative AICPIN Figures for August 2023 : DA Forecast January 2024

AICPIN for the Month of August 2023

In the realm of economic indicators, the Consumer Price Index for Industrial Workers (CPI-IW) is a pivotal measure of inflation that reflects the changing cost of living for the working class in India. For the month of August 2023, the All-India CPI-IW took center stage by exhibiting a decrease of 0.5 points, settling at 139.2 (one hundred thirty-nine point two).

DA Forecast January 2024

This shift in the index’s value has drawn the attention of Government servants, and financial enthusiasts worldwide. In this in-depth analysis, we delve into the nuances of the August 2023 CPI-IW, dissecting its implications, and comparing it with historical data to provide valuable insights to calculate the DA for January 2024.

But an increase of 3.3 points in AICPIN in July 2023 will have a significant impact on DA from January 2024 to increase the rate of DA by 4 to 5%.

AICPIN Figures for August 2023- Press Release

GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT
LABOURBUREAU

Shram Bureau Bhawan, Block No.2,
Institutional Area, Sector 38 (West),
Chandigarh – 160036
Dated: 29th September, 2023

F.No. 5/l/202l-CPl

Press Release

Consumer Price Index for Industrial Workers (2016=100) – August, 2023

The Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and All-India and is released on the last working day of succeeding month. The index for the month of August, 2023 is being released in this press release.

The All-India CPI-IW for August,2023 decreased by 0.5 points and stood at 139.2 (one hundred thirty nine point two). On 1-month percentage change, it decreased by 0.36 percent with respect to previous month compared to increase of 0.23 per cent recorded between corresponding months a year ago.

The maximum downward pressure in current index came from Food & Beverages group contributing 0.71 percentage point to the total change. At item level, Wheat, Poultry/Chicken, Eggs-hen, Cotton Seed Oil, Apple, Brinjal, Cauliflower, Chillies Green, Ginger, Lady’s Finger, Tomato, Electricity Domestic, Kerosene Oil, etc. are responsible for the faIl in index. However, this decrease was checked by Rice, Arhar Dal, Onion, Cumin Seed/Jira, Cooked Meal, Tailoring Charges, Books School/ITI, Private Tutor/Coaching Centre Fees, Tuition and other Fees-College and School/lTl, Stationery, etc. putting upward pressure on the index.

At centre level, Jaipur recorded a maximum decrease of 4.8 points. Among others, 3 centres recorded decrease between 3 to 3.9 points, 11 centres between 2to2.9 points, 13 centres between 1 to 1.9 points and22 centres between 0.1 to 0.9 points. On the contrary, Cuttack recorded a maximum increase of 4.4 points followed by Jalandhar with 4.0 points and Dadra & Nagar Haveli and Kollam with 3.7 points each. Among others, 3 centres recorded increase between 2to2.9 points,9 centres between 1 to 1.9 points and 18 centres between 0.1 to 0.9 points. Rest of 4 centres’ indices remained stationary.

Year-on-year inflation for the month stood at 6.91 per cent compared to 1.54 per cent for the previous month and 5.85 per cent during the corresponding month a year before. Similarly, Food inflation stood at 10.06 per cent against 11.87 per cent of the previous month and 6.46 per cent during the corresponding month ayear ago.

AICPIN for September 2023

The next issue of CPI-IW for the month of September,2023 will be released on Tuesday, 31st October, 2023. The same will also be available on the office website

View the Press Release