Consumer price inflation (CPI) hits four-month low at 5.22% in December 2024

NEW DELHI: Consumer price inflation declined to a four-month low of 5.22 per cent in December, down from 5.48 per cent in November, primarily due to reduced food prices, according to the official data released on Monday. The Consumer Price Index (CPI) stood at 5.69 per cent in December 2023.Additionally, the National Statistics Office (NSO) data indicated that food basket inflation decreased to 8.39 per cent in December from 9.04 per cent in November and 9.53 per cent in December 2023.The Reserve Bank of India recently adjusted its inflation forecast for the current fiscal year upward to 4.8 per cent from 4.5 per cent. The central bank also indicated that persistent food price pressures would likely maintain elevated headline inflation during the December quarter.The headline inflation, based on CPI, rose from an average of 3.6 per cent in July-August to 5.5 per cent in September, subsequently increasing to 6.2 per cent in October 2024.