India’s CPI inflation eased to 5.48% in November 2024, down from 6.21% in October, falling within the RBI’s target range of 2-6%. The IIP growth improved to 3.5% in October, up from 3.1% in September, signaling industrial recovery.
Rural inflation outpaced urban rates, with CPI at 5.95% in rural areas compared to 4.83% in urban regions. The CFPI registered a YoY inflation rate of 9.04%, with rural areas at 9.1% and urban areas at 8.74%.
CPI and CFPI showed a downward trend post-December 2023, hitting their lowest in July 2024, followed by an upward movement until October and a subsequent dip in November, driven by reduced food and beverage prices. Significant inflation declines were observed in vegetables, pulses, fruits, milk, sugar, spices, and transportation costs.
