Consumer price inflation moves up to 5% in December

news
13 January 2015

Consumer price inflation in India moved up marginally to 5 per cent in December from 4.38 per cent in November, as prices of some food items, including fruits and vegetables, increased.

Consumer price inflation in December 2013 was at 9.87 per cent.

Consumer price inflation rose to 5.32 per cent in urban India while the increase was 4.71 per cent in rural areas during December. The respective rates for November were 4.69 per cent and 4.09 per cent, respectively.

Food price inflation rose to 4.78 per cent in December 2014, from 3.14 per cent in the previous month, official data released on Monday showed.

A spike in inflation has dampened hopes any major easing of interest rates by the Reserve Bank of India in its February monetary policy review.

RBI is scheduled to announce its sixth bi-monthly monetary policy on 3 February.

Retail prices of vegetables increased by 0.58 per cent in December against a decline of 10.9 per cent in November. Fruit prices were up 14.84 per cent against a 13.74 per cent rise recorded in the previous month.

Prices of food and beverages were up 5 per cent in December, against the 3.5 per cent rise in the previous month.

The Increase in the prices of protein-rich items like eggs, fish and meat were, however, lower at 5.24 per cent in December, against 6.48 per cent in the previous month.

Prices of oil and fats declined further by 1.24 per cent in December over the 0.83 per cent decline in November.

Rise in the prices of cereals and their products were further lower at 3.98 per cent in December against 5.2 per cent in the previous month.

The increase in the prices of milk and its products stood at 9.62 per cent in December against 10.24 per cent a month ago.

The rate of price rise in non-alcoholic beverages was 5.95 per cent in December against 5.75 per cent in previous month.

Sugar prices fell further by 0.84 per cent during the month compared to a decline of 0.28 per cent rise in November.

Inflation rate for pulses and their products stood at 7.24 per cent in December, marginally down from 7.54 per cent in November.

Inflation rate for fuel and lights items softened to 3.41 per cent during December.





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