Consumer Price Index (CPI) numbers for June 2024, based on a base year of 2012=100

In June 2024, the All India Consumer Price Index (CPI) showed a year-on-year inflation rate of 5.08%. This rate varied across rural and urban areas, with rural inflation at 5.66% and urban inflation at 4.39%. Compared to May 2024, inflation for essential sub-groups like ‘Eggs’, ‘Spices’, ‘Meat & fish’, and ‘Pulses & products’ decreased. The CPI for General Indices and Consumer Food Price Index (CFPI) also showed increases, with rural CFPI notably rising by 9.15%. These figures reflect varied price dynamics impacting different segments of the population across India.

Overall Inflation Rates (Year-on-Year)

• All India Consumer Price Index (CPI) inflation rate: 5.08%
• Rural CPI inflation rate: 5.66%
• Urban CPI inflation rate: 4.39%

Monthly Changes (June 2024 over May 2024)

• All India CPI (General) increased by 1.33%
• Consumer Food Price Index (CFPI) increased by 3.17%

Group Specific Highlights

Inflation rates for specific food sub-groups like ‘Eggs’, ‘Spices’, ‘Meat & fish’, and ‘Pulses & products’ have decreased compared to May 2024.

Data Collection

Price data were collected from 99.7% of villages and 98.6% of urban markets, with market-wise price reporting at 88.9% for rural and 93.0% for urban areas.

Upcoming Release

The next CPI release for July 2024 is scheduled for August 12, 2024.

CPI (Consumer Price Index): Key Points

Definition

CPI measures the average change over time in prices paid by urban consumers for a basket of consumer goods and services.

Calculation

It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Purpose

CPI is used as a primary indicator of inflation, reflecting price changes that affect consumers.

Components

The basket typically includes food, housing, apparel, transportation, medical care, recreation, education, and other goods and services.

Base Year

CPI is often indexed to a base year, and changes are expressed as percentages relative to this base year.