New Delhi, October 18 (IANS). According to data released by the Ministry of Labor and Employment on Saturday, inflation rates for agricultural and rural workers were recorded at -0.07 per cent and 0.31 per cent respectively in September.
The All-India Consumer Price Index for Agricultural Workers declined 0.11 points to 136.23, while the Index for Rural Workers declined 0.18 points to 136.42.
According to the data, the food index declined by 0.47 points for agricultural workers and 0.58 points for rural workers in September.
Labor Bureau released Consumer Price Index for Agricultural and Rural Workers with base year 2019=100 for the month of September.
These indices are based on data collected from 787 sample villages in 34 States/Union Territories.
The revised series has significantly expanded its scope and coverage and incorporated several methodological changes to make the indices more robust. For example, the load diagram (share of expenditure in total expenditure) is modified due to changes in consumption patterns.
The geometric mean has been used in place of the arithmetic mean because GM controls price fluctuations and uses the latest classification of personal consumption as per the objective.
Meanwhile, India’s annual inflation rate based on the wholesale price index declined to 0.13 percent in September from 0.52 percent in August, according to data released by the Ministry of Commerce and Industry.
The positive rate of inflation is mainly due to increase in prices of food products, other manufacturing, non-food items, other transport equipment and textiles etc.
According to the data, food prices declined by 1.38 per cent this month due to higher crop production and adequate buffer stocks of wheat and rice.
Similarly, the country’s inflation rate based on Consumer Price Index (CPI) declined to a more than eight-year low of 1.54 per cent in September this year compared to the same month last year, as prices of food items and fuel became cheaper during the month.
–IANS
SKT/