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HomeBusinessIndia’s Retail Inflation Drops To 5.22% In Dec 2024

India’s Retail Inflation Drops To 5.22% In Dec 2024

New Delhi [India]: India’s retail inflation, measured by the All India Consumer Price Index (CPI), fell to 5.22% in December 2024, marking a decrease compared to the previous month, according to the Ministry of Statistics and Programme Implementation.

Inflation in rural areas was higher at 5.76%, while urban inflation stood at a lower 4.58%.

The All India Consumer Food Price Index (CFPI), which tracks food inflation, showed a year-on-year inflation rate of 8.39% in December 2024. This reflects a slight decline from the 9.04% recorded in November 2024. Food inflation in rural areas was 8.65%, compared to 7.90% in urban areas.

December’s inflation figures continue a trend of declining rates observed since mid-2024, with both the CPI and CFPI reaching their lowest levels in four months.

Housing inflation, which is calculated only for urban areas, fell to 2.71% in December 2024, down from 2.87% in November, reflecting easing costs in the housing sector.

Certain commodity categories contributed significantly to the overall decline in inflation. Pulses, sugar and confectionery, personal care products, and cereals saw notable price drops.

However, some items recorded steep price hikes. Peas led the increase with an 89.12% rise, followed by potatoes (68.23%), garlic (58.17%), coconut oil (45.41%), and cauliflower (39.42%). In contrast, items like jeera (-34.69%), ginger (-22.93%), dry chillies (-10.32%), and LPG (-9.29%) experienced deflation, providing relief to consumers.

Month-on-month data for December 2024 showed a decline in the CPI (general) across both rural and urban areas. The rural CPI dropped by 0.50%, urban CPI fell by 0.62%, and the combined CPI decreased by 0.56%.

Similarly, the CFPI registered a month-on-month decline of 1.30% in rural areas, 1.73% in urban areas, and 1.48% overall.

The next CPI data release for January 2025 is scheduled for February 12.

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