Consumer price inflation eases to 3.28% in September
12 Oct 2017
India's consumer price inflation based on the consumer price index eased to 3.28 per cent in September after shooting up to 3.36 per cent in August, breaking an upward spiral that lasted four months.
The September figure of 3.28 per cent, however, is still higher compared to the 1.54 per cent inflation rate registered in July, under the new series.
The government is releasing consumer price inflation data since January 2012 based on combined data for rural and urban consumers.
The onset of monsoon generally exerts an inflationary pressure on the prices of essentials, including food, and lasts till rains end and fresh crop starts arriving in markets, say experts.
Consumer price inflation for the rural areas stood at 3.15 per cent in September against 3.30 per cent in August 2017 and 5.04 per cent in August 2016.
Consumer price inflation for the urban areas stood at 3.44 per cent in September against 3.35 per cent in August 2017 and 3.64 per cent in September 2016.
Food price inflation (combined) stood at 1.25 per cent in September against 1.52 per cent in August and 3.96 per cent in September 2016.
Food price inflation for rural areas stood at 1.31 per cent in September against 1.38 per cent in August 2017 and 3.96 per cent in September 2016.
Food price inflation for urban areas stood at 1.31 per cent in September against 1.67 per cent in August 2017 and 2.88 per cent in September 2016.
RBI's Monetary Policy Committee (MPC) has a mid-term inflation target of 4 per cent.