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Tuesday, July 5, 2022

Retail Inflation Data: Inflation hit agricultural and rural laborers too, rising food prices spoiled the budget

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Retail Inflation Data: Inflation is being hit all-round in the country and there is no untouched by it, even the agricultural and rural laborers. Retail inflation for agricultural laborers has gone up from 6.44 per cent to 6.67 per cent in May due to increase in food prices. At the same time, the retail inflation rate for rural laborers has increased from 6.67 percent to 7 percent.

According to the data released by the Ministry of Labor, the retail inflation rate of food items has increased from 5.29 percent to 5.44 percent for agricultural laborers and from 5.35 percent to 5.51 percent for rural laborers. The All India Consumer Price Index has increased by 11 points to 1119 for agricultural laborers and by 12 points to 1131 points for rural laborers in May 2022. In fact, according to the index for agricultural labor and rural workers, the prices of rice, wheat-flour, jowar, bajra, milk, meat-goat, fresh-dry fish, chili dry, vegetables-fruits and spices have seen an increase.

Earlier, in the month of May, the wholesale inflation rate was 15.88 percent. Whereas in the month of April it was 15.08 percent. This increase in the wholesale inflation rate has been seen mainly due to the increase in the prices of food items. So the wholesale inflation rate of fuel and electricity has also increased during this period. Retail inflation in the month of May There has been a decrease in the Consumer Price Index in May 2022. Retail inflation in May stood at 7.04 per cent as compared to 7.79 per cent in April.

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