CPI paints a grim picture

NEW DELHI: It is now the turn of the Consumer Price Index (CPI) to reflect the spiralling price regime.
The All India Consumer Price Index for Urban Non-Manual Employees or CPI(UNME) released by the Central Statistical Organisation for the month of May ‘06, shows that y-o-y inflation has grown to 5.8%.

The CPI(UNME) stood at 471 in absolute terms. Compared to its value last month (April, ’06), the index is up by six points.

In terms of commodity groups, the CPI(UNME) constituents show that compared with April, the May figures are up 2.47% for “Food, Beverages and Tobacco”. The “Fuel and Light” group also displays an increase but at a much lower growth rate of 0.56%, since the effect of the hike in oil prices is yet to kick in.

The CPI(UNME) figures are sourced from 59 select urban centres across the country. A centre-wise comparison of inflation growth rates for May ’06 against the corresponding figures in the previous year exhibit massive city-wise divergences.

While Imphal recorded the lowest rise in price level from last year, at a mere 1.7%, Gangtok was the highest at 11.1%. Out of the 59 centres, 32 centres showed an inflation growth rate equalling or superseding the national average of 5.8%. All five major metros, except Bangalore, recorded inflation figures lower than the national average.