The retail inflation for agricultural laborers (CPI-AL) and rural workers (CPI-RL) in May 2024 remained almost unchanged at 7% and 7.02% respectively, according to data released by the Ministry of Labour & Employment. The indices were driven by various food and non-food items such as vegetables, pulses, wheat, onion, milk, turmeric, ginger, fresh fish, jowar, and more. Bihar experienced a decline in both CPI-AL and CPI-RL, while Jammu and Kashmir saw no change in the index for agricultural laborers. There was a diverse pattern observed in the indices of different states.
In May 2024, the CPI-AL and CPI-RL saw an increase of 6 points each, reaching the levels of 1269 and 1281 respectively. The point-on-point inflation rate based on CPI-AL was recorded at 7.00% in May, showing a slight deceleration from the previous month. For CPI-RL, the inflation rate was 7.02% in May, a marginal increase from April. In comparison to May 2023, the inflation rates for both CPI-AL and CPI-RL have increased significantly.
The CPI-AL and CPI-RL data is compiled monthly by the Labour Bureau, which is a part of the Ministry of Labour & Employment. Prices are collected from 600 villages spread across 20 states to calculate the indices. In March 2024, the CPI-AL and CPI-RL increased by 1 point each, followed by a further increase in April. The year-on-year inflation rates for both indices have also seen an increase from March to April 2024.
Overall, the retail inflation for both agricultural laborers and rural workers has remained relatively stable in May 2024, with minor fluctuations in different states. The prices of essential food items and other goods have contributed to the inflation rates. The Labour Bureau continues to monitor and release monthly data to track changes in the cost of living for these segments of the population. As the economic landscape evolves, it will be crucial to analyze these inflation trends to understand their impact on the agricultural and rural workforce.
