All India CPI (General): The inflation rate for October 2024 is 6.21%, with rural areas seeing a higher inflation of 6.68%, compared to 5.62% in urban areas.
Consumer Food Price Index (CFPI): The inflation rate for food items stands at 10.87% for October 2024, with rural inflation at 10.69% and urban inflation at 11.09%.
Sectoral Inflation Trends
- Housing Inflation: The year-on-year inflation for housing is 2.81% in October 2024, up from 2.72% in September 2024. This index is compiled only for the urban sector.
- Electricity Inflation: The electricity index for October 2024 is 162.5, with an inflation rate of 5.45%. The corresponding figure for September 2024 was 162.4 with a 5.39% inflation rate.
Food-Related Inflation
- A significant decline in inflation was observed in subgroups such as pulses, eggs, sugar, confectionery, and spices. However, high food inflation continues, particularly due to rising costs of vegetables, fruits, and oils/fats.
Detailed CPI and CFPI Data: October 2024 vs. October 2023
| Category | Rural Inflation (%) | Urban Inflation (%) | Combined Inflation (%) |
|---|---|---|---|
| CPI (General) | 6.68% | 5.62% | 6.21% |
| CFPI | 10.69% | 11.09% | 10.87% |
Monthly Changes in October 2024 (vs. September 2024)
| Category | Rural CPI (General) | Urban CPI (General) | Combined CPI (General) |
|---|---|---|---|
| Index | 199.5 | 193.7 | 196.8 |
| Monthly Change (%) | 1.42% | 1.20% | 1.34% |
| Category | Rural CFPI | Urban CFPI | Combined CFPI |
|---|---|---|---|
| Index | 208.2 | 216.3 | 211.1 |
| Monthly Change (%) | 2.56% | 2.56% | 2.58% |
Sector-Specific CPI and CFPI Data: October 2024 (Provisional)
| Sub-group | Inflation Rate (%) – Rural | Inflation Rate (%) – Urban | Inflation Rate (%) – Combined |
|---|---|---|---|
| Cereals & Products | 7.27% | 6.19% | 6.94% |
| Vegetables | 41.94% | 42.63% | 42.18% |
| Pulses & Products | 7.61% | 7.05% | 7.43% |
| Milk & Products | 2.81% | 3.13% | 2.97% |
| Oils & Fats | 10.91% | 7.07% | 9.51% |
Summery of the News
| Why in News | Key Points |
|---|---|
| Inflation Data for India (October 2024) | – CPI (Consumer Price Index) inflation: 6.21% (YoY) for India in October 2024. – Rural CPI inflation: 6.68%. – Urban CPI inflation: 5.62%. – Food inflation: 10.87% based on the Consumer Food Price Index (CFPI). – Vegetables saw the highest inflation, followed by oils and fruits. – Pulses and eggs saw a decline in inflation. |
| State-wise Inflation | – Rural inflation higher than urban inflation due to food prices and regional differences. |
| Key Consumer Categories Affected | – Food products: Vegetables, fruits, and oils saw the highest inflation. – Housing: 2.81% inflation. – Electricity: 5.45% inflation. |
| Economic Indicators | – CPI Urban (October 2024) increased by 1.20% MoM from September 2024. |
| Static Information (CPI Definition) | – CPI measures the average change over time in the prices paid by urban consumers for a basket of goods and services. |
| Consumer Food Price Index (CFPI) | – A subset of the CPI, measures food inflation, with a current rate of 10.87% in October 2024. |
| Key Government Schemes Mentioned | – Inflation Relief: No specific scheme mentioned in the article, but inflation relief measures are typically part of economic policy. |
| Impacts on Urban vs. Rural Areas | – Urban inflation is generally less affected by food prices than rural areas, which are more dependent on agricultural products. |
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