I'd avoid statement labels ('LINE' in your sample) unless they are required. Especially in a small scope the target of loop commands is clear in any case and adding statement labels makes it look like more is going on than is actually the case.

Here's Essential Practice number 4 of Damian Conway's Ten Essential Coding Practices:

4. Label every loop that is exited explicitly, and every next, last, or redo.

I adhere to this best practice except in the most trivial circumstances. Whenever there's a natural, logical label to use (e.g., LINE, RECORD, ROW, FROG), I use it. It makes my intentions explicit and clear.

(See Perl Best Practices.)