Informist, Thursday, Sep 12, 2024
--India Aug CPI headline inflation rate 3.65%
--Informist poll estimated India Aug CPI inflation at 3.6%
--India Aug CPI headline inflation rate 3.65% vs 3.60% Jul
--India Aug CPI food price inflation 5.66% vs 5.42% Jul
--India Aug CPI rural inflation 4.16% vs 4.10% Jul
--India Aug CPI urban inflation 3.14% vs 3.03% Jul
--India Aug CPI combined index flat on month
--India Aug CPI food price index down 0.4% on month
--India Aug CPI cereals and products index up 0.6% on month
--India Aug CPI vegetable index down 2.5% on month
--India Aug CPI pulses and products index up 0.5% on month
--India Aug CPI oils and fats index up 0.2% on month
--India Aug CPI food, beverage index down 0.3% on month
--India Aug CPI housing index up 0.6% on month
--India Aug CPI clothing, footwear index up 0.3% on month
--India Aug CPI fuel and light index up 0.3% on month
--India Aug CPI miscellaneous index up 0.3% on month
--India Aug CPI core inflation 3.4% vs 3.4% Jul
NEW DELHI – India's annual inflation rate based on the Consumer Price Index remained largely unchanged at 3.65% in August from a revised July print of 3.60%, data released today by the National Statistical Office showed.
CPI inflation was in line with expectation. According to an Informist poll, the headline inflation rate was seen at 3.6% in August.
The headline print remained below the Reserve Bank of India's target of 4% for the second consecutive month after having spent nearly five years above it. This was mainly because of a statistical effect of a high base and a weaker month-on-month rise in food prices.
The overall index in August was flat from the previous month, while the food price index fell 0.4% from July.
The sequential fall in food prices was led by vegetables, which fell 2.5% on month in August. On other hand, cereal prices rose 0.6% month on month in August, while pulses prices rose 0.5% from July. Food inflation rose to 5.66% in August from 5.42% in July.
Core inflation, which strips out fuel and food items, remained at 3.4% for the second consecutive month in August. In July, core inflation had risen for the first time in 20 months because of an increase in telecom tariffs.
The following table details sequential and annual increase in the main components in CPI (Combined):
Weight | Index for August | Month-on-month change (in %) | Year-on-year change (in %) | ||
August | July | ||||
Cereals and products | 9.67 | 192.4 | 0.6 | 7.31 | 8.14 |
Meat and fish | 3.61 | 223.3 | (-)3.2 | 4.30 | 5.92 |
Egg | 0.43 | 189.1 | (-)2.7 | 7.14 | 6.82 |
Milk and products | 6.61 | 186.6 | 0.3 | 2.98 | 3.05 |
Oils and fats | 3.56 | 161.5 | 0.2 | (-)0.86 | (-)1.10 |
Vegetables | 6.04 | 260.6 | (-)2.5 | 10.71 | 6.83 |
Pulses and products | 2.38 | 214.7 | 0.5 | 13.60 | 14.77 |
Sugar and confectionery | 1.36 | 131.4 | 0.3 | 4.70 | 5.22 |
Spices | 2.50 | 228.0 | 0.0 | (-)4.4 | (-)1.43 |
Food and beverages | 45.86 | 202.7 | (-)0.3 | 5.30 | 5.06 |
Pan, tobacco and intoxicants | 2.38 | 208.5 | 0.1 | 2.71 | 3.02 |
Clothing and footwear | 6.53 | 192.8 | 0.3 | 2.72 | 2.67 |
Housing | 10.07 | 181.1 | 0.6 | 2.66 | 2.68 |
Fuel and light | 6.84 | 176.6 | 0.3 | -5.31 | (-)5.48 |
Miscellaneous | 28.32 | 184.3 | 0.3 | 3.89 | 3.84 |
General Index | 100 | 193.0 | 0.0 | 3.65 | 3.60 |
Consumer Food Price Index | 39.06 | 203.4 | (-)0.4 | 5.66 | 5.42 |
INDEX NUMBER | INFLATION RATE (%) | ||||||||||||
Month | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
Jan | 185.5 | 176.5 | 165.7 | 156.3 | 150.2 | 139.6 | 5.10 | 6.52 | 6.01 | 4.06 | 7.59 | 1.97 | |
Feb | 185.8 | 176.8 | 166.1 | 156.6 | 149.1 | 139.9 | 5.09 | 6.44 | 6.07 | 5.03 | 6.58 | 2.57 | |
Mar | 185.8 | 177.2 | 167.7 | 156.8 | 148.6 | 140.4 | 4.85 | 5.66 | 6.95 | 5.52 | 5.84 | 2.86 | |
Apr | 186.7 | 178.1 | 170.1 | 157.8 | 151.4# | 141.2 | 4.83 | 4.70 | 7.79 | 4.23 | 7.22# | 2.99 | |
May | 187.7 | 179.1 | 171.7 | 160.4 | 150.9# | 142.0 | 4.80 | 4.31 | 7.04 | 6.30 | 6.27# | 3.05 | |
Jun | 190.2 | 181.0 | 172.6 | 161.3 | 151.8 | 142.9 | 5.08 | 4.87 | 7.01 | 6.26 | 6.23 | 3.18 | |
Jul | 193.0 | 186.3 | 173.4 | 162.5 | 153.9 | 144.2 | 3.60 | 7.44 | 6.71 | 5.59 | 6.73 | 3.15 | |
Aug | 193.0* | 186.2 | 174.3 | 162.9 | 154.7 | 145.0 | 3.65* | 6.83 | 7.00 | 5.30 | 6.69 | 3.28 | |
Sep | 184.1 | 175.3 | 163.2 | 156.4 | 145.8 | 5.02 | 7.41 | 4.35 | 7.27 | 3.99 | |||
Oct | 185.3 | 176.7 | 165.5 | 158.4 | 147.2 | 4.87 | 6.77 | 4.48 | 7.61 | 4.62 | |||
Nov | 186.3 | 176.5 | 166.7 | 158.9 | 148.6 | 5.55 | 5.88 | 4.91 | 6.93 | 5.54 | |||
Dec | 185.7 | 175.7 | 166.2 | 157.3 | 150.4 | 5.69 | 5.72 | 5.66 | 4.59 | 7.35 |
Source: Ministry of Statistics and Programme Implementation
"#Based on imputed data
*Provisional"
End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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