Retail Inflation Eases To 5 Per Cent In September, 2023.

Retail Inflation: Consumer Price Index (CPI)

Released by: National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI)

Base year: 2012

List of Indices released ( for september 2023):

All India Consumer Price Index (CPI) on Base 2012=100

Consumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C)

CPIs for Sub-Groups and Groups for both All India and all States/UTs

Data Collection:

The price data are collected from selected 1114 urban Markets and 1181 villages covering all States/UTs through personal visits by field staff of Field Operations Division of NSO, MoSPI on a weekly roster.

Year-on-Year Inflation: current month over same month of last year, i.e. September 2023 over September 2022

Next date of release for October 2023 CPI is 13th November 2023

Inflation under Control:

Inflation is reduced to permitted inflation threshold limit of 2-6%

CPI (August) – 6.83

CPI(September) – 5.02

Reason for reduction in CPI:

1Decrease in prices of Vegetables

2LPG cylinder price cuts unveiled by the Centre last month

3Base Effect

CPI in September 2022 was7.4%. It helped ease the inflation rate relatively.

State’s Inflation

Inflation was the lowest in Chhatisgarh at 1.98%

Highest Inflation: Rajasthan-6.53%

Inflation Rate of Tamilnadu: 4.54%

List of Items included in Consumer Price Index Basket:

1Food and beverages

1Cereals and products

2Meat and fish

3Egg

4Milk and products

5Oils and fats

6Fruits

7Vegetables

8Pulses and products

9Sugar and Confectionery

10Spices

11Non-alcoholic beverages

12Prepared meals, snacks, sweets etc.

2Pan, tobacco and intoxicants

3Clothing and footwear

1Clothing

2Footwear

4Housing

5Fuel and light

6Miscellaneous

1Household goods and services

2Health

3Transport and communication

4Recreation and amusement

5Education

6Personal care and effects

List of Item in CFPI : Out of 12 sub-groups contained in ‘Food and Beverages’ group, CFPI is based on ten sub-groups, excluding ‘Non-alcoholic beverages’ and ‘Prepared meals, snacks, sweets etc.’

Relevant Information:

Inflation Targeting Framework

Monetary Policy Framework Agreement 2015