wat does consumer price from industrial worker measures????
A Consumer Price Index for Industrial Workers measures the impact of changes in the retail prices on the cost of living of industrial workers. In a country like India, CPI for industrial workers is estimated and published by the Labour Bureau, Shimla taking 1982 as the base year for the current series. In India, CPI for industrial workers is the most popular index and is used by the government to regulate Dearness Allowance (D.A.) to compensate its employees against the price rise. The target group for calculating CPI for Industrial Workers is an average working class family who are engaged in any of these seven economic sectors viz. plantation, factories, mines, motor transport, port, railways and electricity generation and distribution. The CPI (IW) is currently calculated at base 2001=100. The index is released on the last working day of a each month for that month.
The weight schemes in CPI for Industrial Workers include food, pan, supari, tobacco, fuel and lighting, housing, clothing, and miscellaneous expenses. Food being the most important component has the highest weight. Therefore, it can be regarded that the food price changes have a significant impact on the CPI.