New Delhi, Dec 12, 2024: Retail inflation in India slowed to 5.48% in November, down from 6.21% in October, mainly due to a significant decline in food prices, especially vegetables, as per government data released on Thursday.
The Consumer Price Index (CPI) data by the National Statistics Office (NSO) revealed that inflation in the food basket dropped to 9.04% in November, compared to 10.87% in October and 8.70% in November 2023. The NSO highlighted a notable decrease in inflation for items such as vegetables, pulses, sugar, fruits, eggs, milk, spices, transport, and personal care products during November.
This drop follows a period of rising inflation, which had increased from an average of 3.6% in July-August to 5.5% in September, reaching 6.2% in October — the highest level in over a year.
Last week, the Reserve Bank of India revised its inflation projection for the current fiscal year to 4.8% from 4.5%, citing persistent food price pressures that are likely to keep headline inflation elevated through the December quarter.
