New Delhi: India’s retail inflation eased to 5.48 percent in November. It was at 6.2 percent in the previous month of current fiscal year. The ease in inflation in November 2024 is mainly due to decline in inflation in food and beverages group. According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), inflation in rural areas stood at 5.95 percent compared to 4.83 percent in urban regions.
The food inflation rate for November 2024, based on the All India Consumer Food Price Index (CFPI), is provisionally reported at 9.04 percent, down from 10.9 percent recorded in October. Corresponding inflation rate for rural and urban areas stood at 9.1 percent and 8.74 percent.
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India’s retail inflation remained under the central bank’s target in November. The Reserve Bank of India (RBI) aims to keep inflation within a range of 2 to 6 percent, with a medium-term target of 4 percent.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India are made after reviewing the CPI.
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