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CPI inflation cools down to 17-month low of 2.33% in November

13 Dec 2018 Evaluate

Continuing easing trend for the second straight month, India’s retail inflation based on Consumer Price Index (CPI) cooled down to a 17-month low of 2.33% in the month of November 2018, as compared to 4.88% in the same month of previous year. The inflation softened mainly on account of decline in prices of kitchen essentials like vegetables, eggs and pulses. It was lower than this in June 2017 when it stood at 1.46%. Besides, CPI for October 2018 has been revised slightly up at 3.38% from 3.31% earlier. The overall food inflation showed a negative print of 2.61% in November against (-) 0.86% in October and 4.35% in the corresponding month of last year.

As per the data of the Central Statistics Office (CSO), Ministry of Statistics and Programme, the CPI (Rural, Urban, Combined) on Base2012=100 for November 2018, stood at 1.71%, 3.12% and 2.33% respectively, compared to 4.79%, 4.90% and 4.88%, respectively in November 2017. The index value of CPI for combined stood at 140.8. The data also showed that Consumer Food Price Index (CFPI) for all India Rural and Urban for November 2018 stood at (-) 2.33% and (-) 3.04%, respectively, compared to 4.04% and 4.90%, respectively in November 2017. The index value of CFPI for combined stood at 137.8 for the month of November.

According to the data, vegetables prices showed a sharp decline with inflation standing at (-) 15.59% in November as against (-) 8.06% in the previous month. For pulses and its products, the rate of deflation slowed a tad at (-) 9.22% from (-) 10.28%. Protein rich eggs inflation came in at (-) 3.92% as against 2.21% in October. For fuel and light category, the rate of price rise eased to 7.39% during the month from 8.55%. However, meat and fish turned costlier at 4.99% from 3.02%. For fruits, the inflation moderated to 0.21% from 0.35%.

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