Finance & Economy | News & Insights

Retail inflation for industrial workers eases to 5.27% in November.

Published: January 4, 2021
Author: Manali bhanushali

Retail inflation for industrial workers eased to 5.27% in November compared to 5.91% in October, mainly due to lower prices of certain food items. “Year-on-year inflation based on all items stood at 5.27% for November, 2020 as compared to 5.91% for the previous month (October) and 8.61% during the corresponding month of the previous year,” a labour ministry statement said. The interest on provident fund will be paid in one go and not in two instalments, the government has said, citing good financial health of the massive fund body that acts as a security cushion for a majority of employees across the country. Labour Minister Santosh Gangwar today made the decision official to transfer the entire consolidated amount of annual interest payment to subscribers of the Employees’ Provident Fund Organisation (EPFO). The Finance Ministry has approved the move.

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