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India Inflation Rate
Last Release
Sep 30, 2024
Actual
5.49
Units In
%
Previous
3.65
Frequency
Monthly
Next Release
Nov 12, 2024
Time to Release
27 Days 11 Hours
Highest | Lowest | Average | Date Range | Source |
12.17 Nov 2013 | 1.54 Jun 2017 | 5.93 % | 2012-2024 | Ministry of Statistics and Programme Implementation (MOSPI) |
In 2013, the consumer price index replaced the wholesale price index (WPI) as a main measure of inflation. In India, the most important category in the consumer price index is Food and beverages (45.86 percent of total weight), of which Cereals and products (9.67 percent), Milk and products (6.61 percent), Vegetables (6.04 percent), Prepared meals, snacks, sweets, etc. (5.55 percent), Meat and fish (3.61 percent), and Oils and fats (3.56 percent). Miscellaneous accounts for 28.32 percent, of which Transport and communication (8.59 percent), health (5.89 percent), and education (4.46 percent). Housing accounts for 10.07 percent; Fuel and light for 6.84 percent; Clothing and footwear for 6.53 percent; and Pan, tobacco and intoxicants for 2.38 percent. Consumer price changes in India can be very volatile due to dependence on energy imports, the uncertain impact of monsoon rains on its large farm sector, difficulties transporting food items to market because of its poor roads and infrastructure and high fiscal deficit.
Latest Updates
The annual inflation rate in India rose to 5.49% in September of 2024 from 3.65% in the previous month, well above market estimates of 5%. It was the highest inflation rate since the start of the year, overshooting the RBI’s target of 4% after dropping below the threshold in the first two months of the September quarter, thus jeopardizing previous expectations of the imminent start of rate cuts by the central bank. Inflation surged for food (9.24% vs 5.66% in August), which represents close to half of the Indian consumer price basket, amid soaring price increases for vegetables (35.99%), pulses and products (9.81%), and (7.65%). Prices also accelerated for housing (2.78% vs 2.66%), and fell at a slower pace for fuel and light (-1.39% bs -5.31%). From the prior month, the Indian CPI rose by 0.6%.
India Inflation Rate History
Last 12 readings