Big drop on inflation front, November figure below 6%

Business Business: Retail inflation data for November has been published. Retail inflation fell to 5.48 per cent this month. India’s Consumer Price Index (CPI) inflation fell to 5.48 per cent in November as rising vegetable prices slowed due to improved supply.

Food inflation fell to 9.04 per cent in November released by the National Statistical Office. It was 10.87 per cent in October 2023 and 8.70 per cent in November 2023. Headline inflation based on the Consumer Price Index has risen above average. From 3.6 per cent in July and August to 5.5 per cent in September and 6.2 per cent in October 2024. This is the highest value since September 2023.

The Reserve Bank of India (RBI) last week raised the inflation forecast for the current financial year 2024-25 from 4.5 per cent to 4.8 per cent. The central bank also forecast that overall inflation could remain high in the December quarter due to pressure on food prices.