AICPIN for the month of May 2015 – 2 Points increased from 256 to 258

AICPIN for the month of May 2015 – 2 Points increased from 256 to 258

AICPIN for the month of May 2015

According to the press release of Labour Bureau, the All-India CPI-IW for May, 2015 increased by 2 points and pegged at 258 (two hundred and fifty eight).

Click to view the official press release issued by Labour Bureau

‘Expected DA July 2015’ to be finalized – May 2015 AICPIN to be announced today

‘Expected DA July 2015’ to be finalized – May 2015 AICPIN to be announced today

‘DA from July 2015’ will most likely be finalized today; DA calculation stands at nearly 6%, as of now.

The price of petrol and diesel is one of the most important factors that influence the prices of general commodities. Petrol and diesel prices had increased by 10 to 15% in the month of May. Experts believe that it will have a huge impact on the prices of essential commodities too.

The Labour Bureau calculates the AICPIN points based on the prices of essential commodities at 78 select towns and cities from all over the country. The Consumer Price Index for Industrial Workers (CPI-IW) is an important statistical/economic indicator. It was first introduced on scientific lines with base 1960=100 which was based on the results of Family Living Survey conducted in 1958-59 at 50 industrially important centres. The series was then, updated on base 1982=100 and a revision in 1999-2000 has further updated the base on 2001=100.

The CPI (IW) Base Year 2001=100 index points for the month of May will be announced today. Based on today’s announcement, one can calculate, the Dearness Allowance that will be given from July onwards.

Source: www.cgstaffportal.in

AICPIN points for the month of May to be announced Tomorrow

AICPIN points for the month of May to be announced Tomorrow

“The Ministry of Labour will announce the ‘All India Consumer Price Index for Industrial Workers’ for the month of May, tomorrow; AICPIN indicates the rise and fall of prices of essential commodities across important towns and cities in the country”.

After significant changes in the Agricultural and Rural AICPIN points in the month of May, there is tremendous curiosity regarding the AICPIN points for the industrial workers. The index of Agricultural and Rural AICPIN had increased by 6 and 7 points to 811 and 816 respectively.

CPI (IW) BY 2001=100 points indicate the fluctuation of prices of essential commodities. If the CPI (IW) points increase, it leads to an increase in the percentage of additional Dearness Allowance for Central Government employees and Pensioners.

If the AICPIN for the month of May increases by 4 points, then the Dearness Allowance for July could be higher by 7%. In other words, from 113%, it could go up to 120%.

The AICPIN points of each month are calculated on the basis of the fluctuations in the prices of 24 commodities, including rice and wheat, in 78 selected cities and towns. The CPI (IW) BY 2001=100 of this month is released towards the end of the following month.

The present method of calculation was recommended by the 6th Central Pay Commission. From 01.01.2016 onwards, it will be calculated based on the recommendations of the 7th Central Pay Commission.

Source: www.cgstaffnews.in