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Journalism of Courage
Select food items,fuel and housing grew more expensive in June,leading to an over 1.5 per cent rise in the Consumer Price Index (CPI) vis-a-vis the month of May to 108.8 points.
The CPI,based on retail prices,stood at 107.1 points in May,as per data released by the government today.
At the all-India level,the CPI for ‘food,beverages and tobacco’ went up by 1.21 per cent to 108.6 points in June from 107.3 points in the previous month.
The index for vegetables rose by 6.17 per cent month-on-month to 99.8 points,while the CPI for milk and milk products was up by 1.16 per cent to 113.3 points in June vis-a-vis May.
Similarly,the CPI for eggs,meat and fish rose by 2 per cent to 112.3 points and the CPI for oils and fats went up by 2.10 per cent to 116.6 points.
The index for condiments and spices went up by 1.36 per cent in June vis-a-vis May to 119.5 points,while the CPI for non-alcoholic beverages went up 1.10 per cent to 110.3 points.
However,fruit prices fell by 1.60 per cent in the index during the month under review to 128.9 points.
There were also marginal falls in retail prices of pulses and sugar,as per the CPI data.
The ‘fuel and light’ segment was up by 1.09 per cent in the index at 111.3 points in June,as against 110.1 points in May.
The government had hiked prices of diesel,cooking gas and kerosene in late May and the price rise has been reflected in the latest Consumer Price Index.
The indice for ‘Housing’ has been declared for the first time. However,it has been compiled only for urban areas,as “house rent is negligible for the rural areas”,the release said.
Housing was up 5.78 per cent month-on-month at 106.2 points in June,as against 100.4 points in May.
In June,the CPI for ‘clothing,bedding and footwear’ stood at 115.6 points on an all-India basis,as against 113.9 in May,an increase of 1.14 per cent.
The CPI for miscellaneous items was pegged at 108.1 points on a countrywide basis in June,up marginally from 107.1 points in the previous month.
The combined general index for rural and urban consumers stood at 109.9 and 107.3 points,respectively,in June.
In May,it was 108.7,105.1 and 107.1 points,respectively,for rural,urban and combined consumers.
Meanwhile,the overall April numbers have been maintained at the provisional estimate of 106.2 points.
The new nationwide CPI,launched earlier this year,was introduced to reflect the actual movement of prices at the micro-level and help policymakers like the RBI in better framing of decisions.
According to experts,with the passage of the time,the new index will supersede the Wholesale Price Index (WPI) as the benchmark to measure inflation.
Inflation,as measured by the WPI,stood at 9.44 per cent in June.
During the unveiling of the new CPI earlier this year,the government had said it would continue the practice of giving the figures in the present form without quoting the inflation rate for one year.
The government will wait “till the series gets stabilised” and adequate timely receipt of price data is achieved before it begins to release retail inflation figures based on the index from January,2012.
These consumer indices include five major groups food,beverages and tobacco; fuel and light; housing; clothing,bedding and footwear; and miscellaneous items.
