India's Consumer Price Index eases to log 6.93 per cent in Nov.

For the first time in three months, India's Consumer Price Index (CPI) eased to log 6.93 per cent in November 2020. This is lower compared to 7.61 per cent recorded in October 2020. In November, rural inflation stood at 7.20 per cent while urban inflation was at 6.73 per cent.

Overall, the CPI inflation is at a three-month low. The CPI was below 7 per cent in August 2020 when it stood at 6.69 per cent. In the following month, inflation was at 7.27 per cent.

On the back of softening in food prices, inflation eased. The Consumer Food Price Index (CFPI) stood at 6.73 per cent in November 2020 compared to 11 per cent in the previous month. In November this year, NSO collected prices from 98.8 per cent.

 Segment-wise, food and beverages inflation stood at 8.76 per cent while inflation rate of pan, tobacco and intoxicants was at 10.36 per cent. Clothing and footwear inflation was at 3.30 per cent while housing inflation stood at 3.19 per cent. Fuel and light inflation came in at 1.90 per cent while miscellaneous inflation was at 6.94 per cent. All said and done, inflation continues to remain above RBI's target of 4 per cent.

In the latest policy, RBI projected inflation at 6.8 per cent for Q3:2020-21, 5.8 per cent for Q4:2020-21 and 5.2 per cent to 4.6 per cent in H1:2021-22 with risks broadly balanced.

The Price data has been collected from representative and selected 1114 urban markets and 1181 villages covering all states/UTs by way of personal visits by the field staff of Field Operations Division of NSO,  Ministry of Statistics and Programme Implementation ... on a weekly basis.