Retail Inflation for Agricultural and Rural Workers in India Stays Steady in May 2024

In May 2024, the retail inflation for agricultural labourers (CPI-AL) and rural workers (CPI-RL) in India remained nearly unchanged at 7% and 7.02%, respectively, according to the Ministry of Labour & Employment.

The previous month’s rates were 7.03% for CPI-AL and 6.96% for CPI-RL. Food and non-food items such as vegetables, pulses, wheat (atta), onion, milk, turmeric whole, ginger, fresh fish, jowar, pan leaf, medicines, shirting cloth (C.M.), saree (C.M.), and leather chappal drove the indices for May.

Bihar experienced a decline in both CPI-AL and CPI-RL, while the index for agricultural labourers remained stationary in Jammu and Kashmir. A diverse pattern was observed in the indices of constituent states.

The CPI-AL and CPI-RL registered an increase of 6 points each in May 2024, reaching levels of 1269 and 1281, respectively. The point-on-point inflation rate based on CPI-AL was recorded at 7.00% in May 2024, showing a slight decrease from 7.03% in April 2024. For CPI-RL, the inflation rate was recorded at 7.02% in May 2024, a marginal increase from 6.96% in April 2024.

The corresponding figures for May 2023 were 5.99% for CPI-AL and 5.84% for CPI-RL. In March 2024, the CPI-AL and CPI-RL increased by 1 point, reaching 1259 and 1270, respectively. In April 2024, the CPI-AL rose by 4 points to 1263, while the CPI-RL increased by 5 points to 1275.

The year-on-year inflation rates for CPI-AL and CPI-RL in March 2024 were recorded at 7.15% and 7.08%, respectively. In April 2024, the year-on-year inflation rates for CPI-AL and CPI-RL were registered at 7.03% and 6.96%, respectively.

The CPI-AL and CPI-RL data is compiled every month by the Labour Bureau, a part of the Ministry of Labour & Employment, which collects retail prices from 600 villages spread over 20 states.