Relief for Agricultural and Rural Workers as Inflation Rates Fall in September: -0.07% and 0.31%

New Delhi (The Uttam Hindu): According to data released by the Ministry of Labour and Employment on Saturday, the inflation rate for agricultural and rural workers in September stood at -0.07% and 0.31%, respectively. The All India Consumer Price Index (CPI) for agricultural workers fell by 0.11 points to 136.23, while for rural workers it declined by 0.18 points to 136.42.

The data indicates that the food index in September decreased by 0.47 points for agricultural workers and 0.58 points for rural workers. The Labour Bureau published the Consumer Price Index for agricultural and rural workers using 2019=100 as the base year, based on data collected from 787 sample villages across 34 states and union territories.

The revised series has expanded coverage and incorporated several methodological changes to make the indices more robust. For example, the weight diagram was updated to reflect changes in consumption patterns. Additionally, geometric mean was used instead of arithmetic mean to better control price fluctuations, along with the latest classification of individual consumption.

Meanwhile, according to data released by the Ministry of Commerce and Industry, the annual wholesale price index (WPI)-based inflation in India fell to 0.13% in September, down from 0.52% in August. The positive WPI inflation was mainly due to rising prices in food products, other manufacturing, non-food items, transport equipment, and clothing.

The data further shows that food prices fell by 1.38% in September due to higher crop production and adequate buffer stocks of wheat and rice. Similarly, CPI-based inflation fell to 1.54%, the lowest level in over eight years, compared to the same month last year, as prices of food items and fuel declined during the month.