Decline in food and beverage group led to retail inflation, based on the Consumer Price Index (CPI) softened to 5.48 per cent in November compared with 6.2 per cent in October.

According to government data, released on Thursday, the year-on-year retail inflation growth rate based on All India Consumer Food Price Index (CFPI) for November came in at a little over 9 per cent as against 10.9 per cent in October.

A government statement said that it can be observed that after December 2023, inflation rate for both CPI(General) and CFPI were declining, reaching their lowest point in July 2024. However, from August to October 2024, an increasing trend was observed. Thereafter, in November, inflation has again declined. The decline in inflation in November is mainly due to decline in inflation in “food & beverages” group, it said.

During November, significant decline in inflation is observed in vegetables, Pulses & Products, Sugar & Confectionary, Fruits, Eggs, Milk and products, Spices, transport & communication and Personal care & effects subgroups.

Garlic, potato inflation accelerates

The top five items showing highest year on year Inflation at All India level in November 2024 are garlic (85.14), potato (66.65), cauliflower (47.70), cabbage (43.58) and coconut oil (42.13). The key items having lowest year on year inflation in Novemberare jeera (-35.04), ginger (-16.96), LPG-excluding conveyance (-10.24) and dry chillies (-9.73). 

Industrial output as measured by Index of Industrial Production (IIP) rose 3.5% in October.

Also read: Retail inflation: CPI surges to 14-month high of 6.21% in October

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