AICPIN June 2024: July DA Calculation Insights
AICPIN June 2024: In June 2024, the All-India Consumer Price Index for Industrial Workers (CPI-IW) experienced a noteworthy increase of 1.5 points, resulting in a new index level of 141.4. This rise points to subtle shifts in the economic landscape, highlighting the ongoing adjustments in consumer prices. Furthermore, when examining the year-on-year inflation rate for the month of June 2024, it is evident that inflation moderated significantly to a more manageable rate of 3.67%. This figure stands in contrast to the higher inflation rate of 5.57% observed in June 2023, suggesting improvements in price stability and potentially offering greater purchasing power to consumers across the nation.
AICPIN June 2024: Hike in DA for Government Employees
The Dearness Allowance, which serves as a vital financial cushion to help offset the rising cost of living, is being hiked once every six months for both existing and retired central government employees, a practice that has been in place for a significant amount of time! This crucial adjustment is meticulously calculated in two distinct periods, with the first being from January to June and the second from July to December, following the detailed formula prescribed by the comprehensive guidelines of the 7th Pay Commission.
Specifically, the exact percentage of the first installment of the Dearness Allowance is determined based on the calculations made during the July to December timeframe, and this adjusted amount is then provided to employees starting from the 1st of January. Conversely, the precise percentage for the second installment of the Dearness Allowance is calculated from January to June, and those figures are subsequently disbursed beginning on the 1st of July, ensuring that employees receive timely support to manage their financial needs effectively.
AICPIN June 2024 Press Release PDF Download
AICPIN June 2024 Table
| M/Y | CPI BY-2001 | CPI BY-2016 |
| Jan-24 | 400 | 138.9 |
| Feb-24 | 401 | 139.2 |
| Mar-24 | 400 | 138.9 |
| Apr-24 | 401 | 139.4 |
| May-24 | 403 | 139.9 |
| Jun-24 | 407 | 141.4 |