Consumer price inflation hits a 15-month high of 4.88% in October

news
12 December 2017

India's consumer price inflation based on the consumer price index shot up to a 15-month high of 4.88 per cent in November 2017 from 3.58 per cent in October on the back of a faster rise in prices of food and fuel products, official data showed.

This was higher than the Reserve Bank of India's (RBI's) 4.0 per cent medium-term target

The rate of retail food inflation during November stood at 4.42 per cent on a year-on-year basis, against 1.90 per cent the previous month, amidst soaring food prices amid unseasonably heavy rains.

In October, inflation rate for the food basket had increased to 1.9 per cent from levels of 1.25 per cent in September.

Consumer price index-based inflation was 3.63 per cent in October 2016, data released by the Central Statistics Office (CSO) showed.

The government is releasing consumer price inflation data since January 2012 based on combined data for rural and urban consumers.

Consumer price inflation for the rural areas stood at 4.7 per cent in November against 3.36 per cent in October and 4.1 per cent in November 2016.

Consumer price inflation for the urban areas stood at 4.9 per cent in November 2017 against 3.81 per cent in October and 3.13 per cent in November 2016.

Food price inflation (combined) stood at 4.42 per cent in November 2017 against 1.90 per cent in October and 2.03 per cent in November 2016.

Food price inflation for rural areas stood at 4.1 per cent in November 2017 against 1.75 per cent in October and 2.7 per cent in November 2016.

Food price inflation for urban areas stood at 4.9per cent against 2.13 per cent in October and 0.75 per cent in November 2016.

RBI's Monetary Policy Committee (MPC) has a mid-term inflation target of 4 per cent.





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