The inflation based on Consumer Price Index (CPI) was 5.48 per cent in November and 5.69 per cent in December 2023.
According to CPI data released by the National Statistics Office (NSO), the inflation in the food basket reduced to 8.39 per cent in December. It was 9.04 per cent in November and 9.53 per cent in December 2023.
“The CPI (General) and food inflation in December 2024 is the lowest in the last four months,” the NSO said.
Last month, the Reserve Bank of India raised the inflation projection for the current fiscal year to 4.8 per cent from 4.5 per cent. It also said the lingering food price pressures are likely to keep headline inflation elevated in the December quarter.
The CPI-based headline inflation increased from an average of 3.6 per cent during July-August to 5.5 per cent in September and further to 6.2 per cent in October 2024.
