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Saturday, February 2, 2013

AI CPI-IW for December at 219. Dearness Allowance from Jan 13 confirmed at 80%

The AICPI – IW (All India Consumer price Index for industrial workers with the base as 2001=100) for the month of December 2012 has been issued by Labour Bureau. The index rose by one point and stands at 219. On 1-month percentage change, it increased by 0.46 per cent between .November and December compared with (–)1.01 per cent between the same two months a year ago. 80% Dearness Allowance

The largest upward contribution to the change in current index came from Miscellaneous Group which increased by 1.08 per cent, contributing 0.49 percentage points to the total change. This was followed by Clothing, Bedding & Footwear and Fuel & Light groups with 1.17 and 0.92 percent respectively contributing 0.13 and 0.10 percentage points to the change. At item level , largest upward pressure came from Rice, Wheat Atta, Groundnut oil, Fish Fresh, Goat Meat, Poultry (Chicken), Onion, Tea (Leaf), Tea (readymade),Electricity charges, Firewood, Sweater, E.S.I. contribution, Medicine (Allopathic), Private Tution Fees, us fare, Flower/ Flower Garlands, Tailoring Charges, etc. 

With this the complete set of indices required for the calculation of DA from January 2013 is available. The DA is calcuated as the average of AICPI-IW for the last 12 months – 115.76)X100/115.76. The figure is rounded to the lower whole number. As predicted previously, the new DA from January 2013 will be 80%, a hike of 8% from the existing 72%.

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