Inflation for Agricultural and Rural Labourers Rises in June 2024
In June 2024, the consumer price inflation (CPI) for agricultural labourers and rural labourers in India increased to 7.02% and 7.04% respectively, according to the Union Ministry of Labour and Employment.
The inflation for rural labourers has been rising for the past two months, from 6.96% in April to 7.02% in May, and now 7.04% in June. For agricultural labourers, the CPI was 7% in May and increased to 7.02% in June.
The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) saw an increase of 11 points each in June 2024, reaching levels of 1280 and 1292. The main drivers of this inflation are food and clothing, while the costs for fuel and light have decreased.
The Labour Bureau, part of the Ministry of Labour and Employment, compiles this data monthly by collecting retail prices from 600 villages across 20 states. Last month, the CPI-AL and CPI-RL increased by 6 points each, reaching levels of 1269 and 1281 respectively.
In May 2024, the point-on-point inflation rate based on CPI-AL was 7.00%, down from 7.03% in April 2024. For CPI-RL, the inflation rate was 7.02% in May 2024, up from 6.96% in April 2024. In May 2023, the figures were 5.99% for CPI-AL and 5.84% for CPI-RL.
Doubts Revealed
Inflation -: Inflation means that the prices of things we buy, like food and clothes, are going up. It means you need more money to buy the same things.
Agricultural Labourers -: Agricultural labourers are people who work on farms. They help grow crops and take care of animals.
Rural Labourers -: Rural labourers are people who work in villages or countryside areas. They might do different kinds of jobs, not just farming.
Consumer Price Inflation (CPI) -: CPI is a way to measure how much the prices of things people buy have increased. It helps us understand how expensive things are getting.
Labour Bureau -: The Labour Bureau is a part of the Indian government that collects information about jobs and workers. They help make decisions to improve working conditions.
Ministry of Labour and Employment -: This is a part of the Indian government that looks after jobs and workers. They make rules to help people who work.