The Consumer Food Price Index (CFPI) saw a significant year-on-year rise, with food inflation provisionally recorded at 9.24 per cent for September
India’s Consumer Price Index (CPI)-based inflation rate for September reached 5.49 per cent from 3.65 per cent in August, reflecting an uptick primarily due to higher food prices. Inflation rates for rural and urban areas were 5.87 per cent and 5.05 per cent, respectively, indicating continued price pressures.
The Consumer Food Price Index (CFPI) saw a significant year-on-year rise, with food inflation provisionally recorded at 9.24 per cent for September. Rural and urban food inflation stood at 9.08 per cent and 9.56 per cent, respectively, suggesting that food prices continue to pose a challenge for households. The spike in food inflation was driven largely by elevated prices in specific food categories.
Housing inflation also showed a slight increase at 2.78 per cent in September compared to 2.66 per cent in August. Notably, the housing index is calculated solely for urban sectors, reflecting price changes in rental and housing-related expenses.
Electricity inflation for September stood at 5.45 per cent, higher than the previous month’s rate of 4.91 per cent. The All India Electricity index rose slightly to 162.5 from 162.4 in August, indicating upward pressure on utility costs.
There was a decline in inflation in certain food categories, including pulses and products, spices, meat and fish, and sugar and confectionery. The decrease in prices in these subgroups provided some relief to consumers.
WPI inflation increased to 1.84 per cent in September 2024 compared to 1.31 per cent in August 2024 mainly because of food articles, particularly onion and tomato. Other components as other manufacturing, manufacture of motor vehicles, trailers and semi-trailers, manufacture of machinery and equipment, too witnessed an increase in prices.
The gap between CPI and WPI increased further in September 2024 to 3.65 per cent as CPI is increasing at a faster rate than WPI. (ANI)
