November CPI Inflation Declined to 5.48% Backed by Lower Inflation in Food & Beverages

The year-on-year inflation rate based on the All India Consumer Price Index (CPI) for November 2024, compared to November 2023, stands at 5.48% (Provisional). The inflation rates for rural and urban areas are reported at 5.95% and 4.83%, respectively.

Consumer Food Price Index (CFPI) Inflation

For November 2024, the year-on-year inflation rate based on the All India Consumer Food Price Index (CFPI) is 9.04% (Provisional). The corresponding inflation rates for rural and urban areas are 9.10% and 8.74%, respectively.

Inflation Trends Over the Past 13 Months

An analysis of CPI (General) and CFPI inflation rates over the past 13 months reveals a general decline in inflation from December 2023, reaching its lowest point in July 2024. However, between August 2024 and October 2024, inflation showed an upward trend. In November 2024, inflation declined once again, primarily driven by lower inflation in the “food & beverages” group.

Housing Inflation Rate

The year-on-year housing inflation rate for November 2024 stands at 2.87%, slightly up from the 2.81% recorded in October 2024. It is important to note that the housing index is compiled only for the urban sector.

Key Subgroup Inflation Trends in November 2024

In November 2024, significant declines in inflation were observed in the following subgroups:

• Vegetables
• Pulses & Products
• Sugar & Confectionery
• Fruits
• Eggs
• Milk & Products
• Spices
• Transport & Communication
• Personal Care & Effects

Highest Inflation Items in November 2024

The top five items with the highest year-on-year inflation at the All India level in November 2024 are:

1. Garlic (85.14%)
2. Potato (66.65%)
3. Cauliflower (47.70%)
4. Cabbage (43.58%)
5. Coconut Oil (42.13%)

Lowest Inflation Items in November 2024

The items with the lowest year-on-year inflation in November 2024 are:

1. Jeera (-35.04%)
2. Ginger (-16.96%)
3. LPG (excluding conveyance) (-10.24%)
4. Dry Chillies (-9.73%)

IIP Growth Rate for October 2024

• The Index of Industrial Production (IIP) growth rate for October 2024 is 3.5%, showing an improvement from 3.1% in September 2024

• The Quick Estimates of the IIP for October 2024 stand at 149.9, compared to 144.9 in October 2023, indicating positive growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.