India’s retail inflation, based on the Consumer Price Index (CPI), escalated to a nine-month high of 5.49 per cent due to high food prices, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Monday. In August, CPI inflation came in at 3.65 per cent, marginally higher than 3.6 per cent the previous month. The previous high was recorded in December 2023 at 5.69 per cent.
“It is likely that the increase in inflation rate for the month of September, 2024 is due to high base effect and weather conditions,” the government release said.
The Consumer Food Price Index (CFPI), the index of food inflation, came in at 9.24 per cent for the month of September and the corresponding inflation rate for rural and urban stood at 9.08 per cent and 9.56 per cent, respectively.
Per the government data, year-on-year housing inflation rate for the month of September stood at 2.78 per cent as against 2.66 per cent in August. The All India Electricity index and inflation for the month of September are 162.5 and 5.45 per cent respectively.
During the month of September, the government data showed a significant decline in inflation is observed in pulses and products, spices, meat & fish and Sugar & confectionery sub group.