Retail Inflation in August 2024: India’s CPI inflation in August 2024 stood at 3.65 per cent as compared with 6.83 per cent a year ago, according to official data released on Thursday, September 12. This is the second lowest in the last five years. Meanwhile, India’s industrial output growth, based on IIP, records a growth of 4.8 per cent in July 2024.
India’s retail inflation in the previous month of July 2024 had stood at 3.6 per cent.
“Year-on-year inflation rate (3.65%) based on All India Consumer Price Index (CPI) for the month of August, 2024, is second lowest in the last five years. Corresponding inflation rates for rural and urban are 4.16% and 3.14%, respectively,” the Ministry of Statistics & Programme Implementation said in a statement.
According to the latest data released by the National Statistical Office (NSO), inflation in the food basket eased to 5.89 per cent in August 2024, compared with 9.94 per cent a year ago. In July 2024, the food inflation had stood at 5.42 per cent.
Decline in inflation is observed in the subgroups of ‘spices’, ‘meat and fish’ and ‘pulses and products’ etc, the ministry said said.
“Food inflation for August 2024 is the second lowest since June, 2023. Year-on-year inflation rate based on All India Consumer Food Price Index (CFPI) number is 5.66% (Provisional) for the month of August, 2024. Corresponding inflation rate for rural and urban is 6.02% and 4.99%, respectively,” the MoSPI stated.
At item level, tomato has exhibited the lowest year on year inflation (-47.91%) as well as lowest MoM change in index (-28.8%).
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