CPI (IW) for the Month of July 2023
The AICPIN (All India Consumer Price Index Number) for the month of July 2023 was released on August 31, 2023 by the Labour Bureau. This statistical data holds significant importance in determining the Dearness Allowance percentage for Central and State Government employees, pensioners, and family pensioners in India. It serves as the basis for calculating the expected DA for January 2024.
In July 2023, the All-India Consumer Price Index for Industrial Workers (CPI-IW) increased by 3.3 points, reaching a total of 139.7. This represents a month-on-month percentage change of 2.42%, compared to a 0.90% increase during the same period last year.
The Labour Bureau, an office under the Ministry of Labour & Employment, compiles the CPI-IW on a monthly basis by collecting retail prices from 317 markets across 88 industrially significant centers in India. Both individual center and national level indices are released on the last working day of the following month. The CPI-IW for July 2023 is being announced through this press release.
The main driver behind the increase in the current index is the Food & Beverages group, contributing 2.86 percentage points to the overall change. Various items within this group, such as Rice, Arhar Dal/Tur Dal, Apple, Mango, Brinjal, Garlic, Ginger, Gourd(Lauki), Chilies Green, Potato, Onion, Tomato, Cumin seed/Jira, Supari, Saree Cotton, Shirt, T-shirt-readymade, School uniform, Leather Sandle, Chappal, Canvas Shoes, House rent, Auto-rickshaw/Scooter fare, Repair/Service Charges, Utensils, and Medicine allopathic have played a significant role in driving the index higher. However, factors like Electricity (domestic) Charges and Kerosene oil have partially offset this increase, resulting in downward pressure on the index.
Expected DA Calculation from Jan 2024
The calculation for Dearness Allowance for January 2024, known as ‘Anticipated DA January 2024’, will begin in December 2023. This calculation will be based on six months of AICPIN data, covering the period from July to December 2023. Our platform provides a user-friendly online tool to determine the Dearness Allowance applicable to all categories of Central Government employees and pensioners, effective from January 1, 2024.
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