Food inflation under Modi rule inching towards UPA-era highs
The annual food inflation rate in the month of October stood at 10.87%, jacking up the retail inflation rate to a fourteen-month high of 6.21%.
The annual food inflation rate in the month of October stood at 10.87%, jacking up the retail inflation rate to a fourteen-month high of 6.21%.
The food and beverages inflation surged to an eye-watering 9.7% in October 2024 from 8.4% in the previous month, amid an uptick in seven of the 12 food groups
MoSPI says the increase in inflation rate for September 2024 is due to high base effect and weather conditions
Driven by an increase in food inflation, the overall retail inflation in August rose in both rural and urban areas, though it’s the 'second lowest' in five years
The RBI and the IMF have projected that India's consumer price inflation will "progressively align towards the inflation target" in FY26
The surge is driven by increased costs of food items, food products manufacturing, crude petroleum, natural gas, mineral oils, and other manufacturing sectors
This headline rate has remained below 5% for three consecutive months since March 2024.
The final leg of this disinflation journey may be tough, says RBI governor Shaktikanta Das
Despite a fall in CPI inflation, food inflation in April 2024 surged to a four-month high at 8.70%
"Overall, the second-round effects of food and fuel inflation on headline have become subdued, especially after the adoption of flexible inflation targeting (FIT) in India," says the apex bank.