New Delhi: India’s retail inflation based on Consumer Price Index (CPI) eased to four four-month low of 5.22 percent in December. The inflation based on Consumer Price Index (CPI) was 5.48 percent in November and 5.69 percent in December 2023. According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), inflation in rural areas stood at 5.76 percent compared to 4.58 percent in urban regions.
The food inflation rate for December 2024, based on the All India Consumer Food Price Index (CFPI), is provisionally reported at 8.39 percent, down from 9.04 percent recorded in November and 10.9 percent registered in October. The corresponding food inflation rate for rural areas stood at 8.65 percent and for urban areas reported at 7.9 percent.
The CPI-based headline inflation increased from an average of 3.6 percent during July-August to 5.5 percent in September and further to 6.2 percent in October 2024. Housing inflation rate for December 2024 on a year-on-year basis stood at 2.71 percent. Corresponding inflation rate for the month of November 2024 was 2.87 percent. The housing index is compiled for urban sector only.
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India’s retail inflation surged to a 14-month high of 6.2 percent in October, with food inflation reaching a 15-month high of 10.9 percent.
India’s retail inflation remained under the central bank’s target in December. 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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