India's consumer price inflation at a 14-month high of 6.2% in October
13 Nov 2024
India’s consumer price inflation rose to a 14-month high of 6.2 per cent in October on the back of a surge in food prices, provisional figures released by the National Statistics Office (NSO) showed.
Inflation based on the All-India Consumer Price Index (CPI) had reached a 9-month high of 5.49 per cent in September.
CPI inflation rate for rural areas stood at 6.68 per cent in October 2024 against 5.87 per cent in September.
CPI inflation for urban areas stood at 5.62 per cent in October 2024 against 5.05 per cent in September.
Inflation rate based on the All India Consumer Food Price Index (CFPI) stood at 10.87 per cent in October 2024 against 9.24 per cent in September.
Food price inflation for rural areas stood at 10.69 per cent in October 2024, up from 9.08 per cent in September.
Food price inflation for urban areas rose to 11.09 per cent in October 2024 from 6.02 per cent in September.
Food prices generally were ruling high for the past several months and these have spiked of late and is likely to stay high without any active government intervention.
Besides food prices, Consumer Price Index also takes into consideration changes in prices of some common consumer goods and services, including housing, apparel, transportation, electronics, medical care, education, etc to measure retail inflation.
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