November CPI Inflation Eases to 5.48%

The Consumer Price Index (CPI) inflation for November 2024 has eased to 5.48%, down from 6.21% in October 2024. This fall in retail inflation brings it within the Reserve Bank of India's target range of 2-6%. The Index of Industrial Production (IIP) also saw growth, registering a rate of 3.5% in October 2024, up from 3.1% in September.

Key Takeaways from November CPI Inflation

The All India Consumer Price Index (CPI) shows a year-on-year provisional inflation rate of 5.48% for November 2024. Rural areas experienced 5.95% inflation, while urban regions recorded 4.83%. The All India Consumer Food Price Index (CFPI) indicates a provisional year-on-year inflation rate of 9.04% for November 2024, with rural areas at 9.10% and urban areas at 8.74%. Notably, inflation decreased across several categories including Vegetables, Pulses & Products, Sugar & Confectionary, and Fruits.

October 2024 IIP Data Highlights

The Industrial Index of Production (IIP) exhibited a growth of 3.5% in October 2024, an improvement from 3.1% in September 2024. Among the three primary sectors, Manufacturing led with 4.1% growth, followed by Electricity at 2.0% and Mining at 0.9%. The Quick Estimates reveal that IIP reached 149.9 in October 2024, compared to 144.9 in October 2023.