New Delhi, Dec 12 || India’s retail price inflation based on the Consumer Price Index (CPI) declined to 5.48 per cent in November as the increase in prices of food items eased during the month bringing relief to household budgets, said the Ministry of Statistics on Thursday.
The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October.
“During the month of November, a significant decline in inflation is observed in vegetables, pulses, sugar and confectionery, fruits, eggs, milk and products, spices, transport and communication and personal care and effects subgroups,” according to the official statement.
The top five items showing the highest year on year Inflation at the all-India level in November are garlic (85.14), potato (66.65), cauliflower (47.70), cabbage (43.58) and coconut oil (42.13), according to the official figures.
The key items having the lowest year-on-year inflation in November 2024 are zeera (-35.04), ginger (-16.96), LPG used as cooking gas (-10.24) and dry chillies (-9.73).
The easing in inflation is a welcome sign as it was the first time that the rate of retail inflation crossed the RBI’s upper limit of 6 per cent in October. The RBI is waiting for retail inflation to come down to 4 per cent on a durable basis before it can go in for an interest rate cut to propel growth.