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, signalling 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, for the broader macro context behind these moves, see Global Uncertainty is on the Rise 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. Inflation resurged sharply by Q4 FY2026 — track the shift in Navigating Permanent Volatility. Significant inflation declines were observed in vegetables, pulses, fruits, milk, sugar, spices, and transportation costs.
