New Delhi, December 12: Retail inflation decreased to 5.48 percent in November, down from 6.21 percent in October, primarily due to a reduction in food prices, particularly vegetables, as per the government data released on Thursday.
According to the Consumer Price Index (CPI) data published by the National Statistics Office (NSO), food inflation fell to 9.04 percent in November compared to 10.87 percent in October and 8.70 percent in November 2023.
“In November 2024, there was a notable decline in inflation rates for vegetables, pulses and products, sugar and confectionery, fruits, eggs, milk and dairy products, spices, transport and communication, as well as personal care and effects subgroups,” the NSO highlighted.
CPI-based headline inflation rose from an average of 3.6 percent during July-August to 5.5 percent in September, progressing further to 6.2 percent in October 2024, the highest level observed since September 2023.
Recently, the Reserve Bank adjusted its inflation forecast for the current fiscal year upward to 4.8 percent from 4.5 percent, noting that persistent food price pressures are expected to maintain elevated headline inflation during the December quarter.
The consumer price index (CPI)-based headline inflation increased from an average of 3.6 percent between July and August to 5.5 percent in September and subsequently to 6.2 percent in October 2024. (PTI)
