New Delhi: India's retail inflation, as measured by the All India Consumer Price Index (CPI) for December 2024, is recorded at 5.22 percent, indicating a reduction from the previous month.
Inflation rates in rural regions reached 5.76 percent, whereas urban inflation was lower at 4.58 percent, as reported by the Ministry of Statistics and Programme Implementation.
The All India Consumer Food Price Index (CFPI) for December 2024 exhibited a year-on-year inflation rate of 8.39 percent, which is a slight decrease from the 9.04 percent noted in November 2024.
Food inflation rates for rural and urban areas were 8.65 percent and 7.90 percent, respectively. The data indicates a steady decline in both CPI and food inflation rates since mid-2024, with December reflecting the lowest figures in the last four months.
The housing inflation rate for December 2024 was 2.71 percent, down from 2.87 percent in November. This index is specific to urban areas, highlighting the evolving trends in housing expenses.
A significant reduction in inflation was noted in several categories, including pulses, sugar and confectionery, personal care products, and cereals, which contributed to the overall alleviation of price pressures.
Among the items with the highest inflation rates, peas (vegetables) experienced a staggering increase of 89.12 percent, followed by potatoes at 68.23 percent, garlic at 58.17 percent, coconut oil at 45.41 percent, and cauliflower at 39.42 percent. Conversely, essential items such as jeera (-34.69 percent), ginger (-22.93 percent), dry chillies (-10.32 percent), and LPG (-9.29 percent) experienced deflation, reducing the overall financial burden on consumers.
The month-on-month data for December 2024 indicates a decline in the CPI (general) for both rural and urban sectors, with the rural CPI decreasing by 0.50 percent and the urban CPI dropping by 0.62 percent.
The overall Consumer Price Index (CPI) experienced a decrease of 0.56 percent. In a similar trend, the Combined Food Price Index (CFPI) showed a month-on-month reduction of 1.30 percent in rural regions, 1.73 percent in urban regions, and 1.48 percent for the overall index. The upcoming CPI data for January 2025 is set to be published on February 12.
