AICPIN for the month of July 2023 – Calculation of Dearness Allowance from Jan 2024
The AICPIN for the month of July 2023 was released on August 31, 2023 by the Labour Bureau. This statistical data holds significant importance in determining the Dearness Allowance percentage applicable to Central and State Government employees, pensioners, and family pensioners in India. It also serves as the basis for calculating the expected DA for January 2024.
In July 2023, the All-India Consumer Price Index for Industrial Workers (CPI-IW) increased by 3.3 points, reaching a total of 139.7. This represents a month-on-month percentage change of 2.42%, compared to a 0.90% increase during the same period last year.
The Labour Bureau, an office attached to the Ministry of Labour & Employment, compiles the CPI-IW on a monthly basis by collecting retail prices from 317 markets across 88 industrially significant centers in India. This index is compiled for individual centers as well as for the entire country and is released on the last working day of the following month. The CPI-IW for July 2023 is being announced through this press release.
The primary factor contributing to the increase in the current index is the Food & Beverages group, which accounted for 2.86 percentage points of the overall change. Various items within this group, such as Rice, Arhar Dal/Tur Dal, Apple, Mango, Brinjal, Garlic, Ginger, Gourd(Lauki), Chilies Green, Potato, Onion, Tomato, Cumin seed/Jira, Supari, Saree Cotton, Shirt, T-shirt-readymade, School uniform, Leather Sandle, Chappal, Canvas Shoes, House rent, Auto-rickshaw/Scooter fare, Repair/Service Charges, Utensils, and Medicine allopathic have played a significant role in driving the index higher. However, factors such as Electricity (domestic) Charges and Kerosene oil have partially offset this increase, resulting in downward pressure on the index.
The calculation of the Dearness Allowance for January 2024 will commence with the next installment of ‘Anticipated DA January 2024’ and conclude in December 2023. This calculation will encompass six months of AICPIN data from July to December 2023. Our platform provides a user-friendly online tool to determine the Dearness Allowance applicable to all categories of Central Government employees and pensioners, effective from January 1, 2024.