AICPIN for the month of October 2023 Press Release PDF
Current AICPIN is 138.4
AIPCIN for Oct 2023 – Press Release: The latest data on the All-India Consumer Price Index for Industrial Workers reveals some interesting trends. In the month of October 2023, the index increased by 0.9 points, bringing it to a total of 138.4. This indicates a 0.65% increase compared to the previous month, which is slightly lower than the 0.91% increase recorded during the same period last year. These numbers provide valuable insights into the current state of inflation and its impact on the cost of living for industrial workers in India.
October 2023 AICPIN 138.4
Expected DA from Jan 2024
The All India Consumer Price Index (AICPIN) reached a record high of 138.4 in October 2023. This notable increase in the index has resulted in a corresponding rise in the Dearness Allowance (DA) to 49%. The AICPIN saw a significant increase of 0.9 points from its previous level, signifying a considerable change in the overall cost of living. Consequently, our team foresees additional increments in the DA and DR, projecting them to reach 50% in the upcoming months.
AICPIN Advance Release Calendar
As per the advance calendar issued by the Labour Bureau, the AICPIN data will be released on Thursday, 30th November 2023 at 6PM. This AICPIN data holds significant importance as it plays a crucial role in determining the Dearness Allowance from January 2024. With three months of data already available from July to September 2023, the release of the CPI points for the fourth month on 30th November 2023 will enable us to calculate the anticipated increase in DA and DR for Central government employees and pensions, effective from January 2024.
What is the importance of AICPIN for CG Employees?
The significance of the Oct 2023 AICPIN lies in its role as a crucial component in determining the Dearness Allowance for both Central Government employees and pensioners. The AICPIN, which stands 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 country.
On a monthly basis, the Labour Bureau releases the AICPIN points, which serve as the basis 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, one must first convert the AICPIN data from Base Year 2016 to Base Year 2001. Then, 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 Oct-2023. Please use our simple online calculator for calculating the expected DA for Jan 2024 – Click To Calculate
7th CPC AICPIN (2016) Table 2023
Index of ECI (ICI) for Oct 2023
In the month of October 2023, there was a significant growth in the combined Index of Eight Core Industries (ICI), which increased by 12.1 percent (provisional) compared to the Index of October 2022. This growth was driven by positive developments in the production of all eight core industries, namely Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products, and Steel. It is noteworthy that each of these industries experienced a boost in production during this period, contributing to the overall increase in the ICI.