Current AICPIN Oct 2023: 138.4
Press Release on AIPCIN for October 2023: The latest data pertaining to the All-India Consumer Price Index for Industrial Workers reveals noteworthy trends. In the month of October 2023, the index witnessed an increase of 0.9 points, resulting in a cumulative value of 138.4. This indicates a 0.65% rise compared to the previous month, which is slightly lower than the 0.91% increase recorded during the corresponding period last year. These figures provide valuable insights into the prevailing state of inflation and its impact on the cost of living for industrial workers in India.
Projected DA from January 2024: The All India Consumer Price Index (AICPIN) reached an all-time high of 138.4 in October 2023. This significant increase in the index has consequently led to a corresponding rise in the Dearness Allowance (DA) to 49%. The AICPIN experienced a substantial increase of 0.9 points from its previous level, indicating a considerable change in the overall cost of living. As a result, our team anticipates further increments in the DA and DR, projecting them to reach 50% in the upcoming months.
AICPIN Advance Release Calendar: According to the advance calendar issued by the Labour Bureau, the AICPIN data will be published on Thursday, November 30, 2023, at 6 PM. This AICPIN data holds immense importance as it plays a pivotal role in determining the Dearness Allowance from January 2024. With data already available for the months of July to September 2023, the release of CPI points for the fourth month on November 30, 2023, will enable us to calculate the anticipated increase in DA and DR for Central government employees and pensions, effective from January 2024.
Significance of AICPIN for CG Employees: The significance of the October 2023 AICPIN lies in its crucial role as a determining factor for the Dearness Allowance of both Central Government employees and pensioners. The AICPIN, an abbreviation for All India Consumer Price Index, is a statistical measure calculated by the Labour Bureau. It quantifies changes in the retail prices of goods and services consumed by households across the nation.
On a monthly basis, the Labour Bureau releases the AICPIN points, which serve as the foundation for calculating the Dearness Allowance. These points are utilized in a formula recommended by the 7th Central Pay Commission to determine the allowance.
Guide on Determining Dearness Allowance for Central Government Employees: To calculate the Dearness Allowance using AICPIN, it is necessary to convert the AICPIN data from Base Year 2016 to Base Year 2001. Subsequently, the total of the previous 12 months’ AICPIN values is obtained and averaged. This average is subtracted from 261.42 and divided by 261.42 once more. Finally, the resulting value is multiplied by 261.42 to approximate the percentage of Dearness Allowance for October 2023. Please utilize our user-friendly online calculator to compute the expected DA for January 2024.