Consumer Price Index Numbers For Industrial Workers
Consumer Price Index Numbers For Industrial Workers (CPI-IW) On Base 2016=100 [Including Retail Price Indices]:
The Labour Bureau has been compiling and maintaining the Consumer Price Index for Industrial Workers since 1944. Thereafter, the series were revised on different bases i.e. 1944 to 1949, 1949 to 1960; 1960 to 1982, 1982 to 2001; and 2001 to 2016.
The new series of Consumer Price Index for Industrial Workers (CPI- IW) on base 2016 =100 has been effective from September, 2020. These indices measures the relative changes in retail prices of fixed basket of goods and services consumed by industrial workers over a period of time. The Consumer Price Index Numbers for Industrial Workers are utilized for regulation of wages & dearness allowance for millions of workers & employees in the country. These indices are also used for measuring inflation and other policy formulations. As an integral part, the Labour Bureau conducts Repeat House Rent Surveys at 88 centers across the country with an objective to collect House Rent data from sampled dwellings on a regular basis for compilation of Housing Index in respect of these centers in each round of six months i.e., January to June and July to December.
The technical details of the surveys and compilation of Index Numbers has the approval of the Technical Advisory Committee on Statistics of Prices and Cost of Living, (TAC on SPCL).
The indices are released on monthly basis and the Index of the previous month is released on the last day of the ongoing month.
On the basis of price data collected for compilation of Consumer Price Index Numbers for Industrial Workers on base 2016=100, Labour Bureau compiles monthly Retail Price Indices for 31 selected commodities in urban areas for 88 selected centers every month. These indices are supplied to Ministry of Consumer Affairs, Food & Public Distribution, Government of India every month for monitoring the prices of these commodities so as to take timely remedial action to check/regulate the prices of these essential items.