YEARS
According to the CPI data released by the National Statistical Office (NSO), inflation in the food basket declined to 8.39 per cent in December. It was 9.04 percent in November and 9.53 percent in December 2023.
India's retail inflation rate, measured by the Consumer Price Index (CPI), fell to a four-month low of 5.22 percent in December compared to 5.48 percent in November. This is mainly explained by the decline in prices in the food basket. Inflation based on the Consumer Price Index (CPI) stood at 5.48 percent in November and 5.69 percent in December 2023. This suggested a continued rise in inflation during the last two months of 2023, as consumers faced higher prices for various goods and services.
According to the CPI data released by the National Statistical Office (NSO), inflation in the food basket declined to 8.39 per cent in December. It was 9.04 percent in November and 9.53 percent in December 2023. “CPI (general) and food inflation in December 2024 are lowest in the last four months,” NSO said.
Last month, the Reserve Bank of India had increased the inflation estimate for the current financial year from 4.5 percent to 4.8 percent. It also said that core inflation is likely to remain high in the December quarter due to food price pressures. CPI-based headline inflation rose from an average of 3.6 per cent during July-August to 5.5 per cent in September and 6.2 per cent in October 2024.
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