CPI cools down further in January to 3.17%
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India's CPI inflation to be around 5% by March 2017Consumer Price Index (CPI), or retail inflation, for the month of January stood at 3.17% said Ministry of Statistics and Programme Implementation (MOSPI) on Monday.
In the month of December, CPI had eased to 3.41%, which was below the Reserve Bank of India's March-end 2017 target of 5% and medium-term target of 4%.
The Rural CPI for the month of January stood at 3.36%, while the Urban CPI stood at 2.9%.
All India Inflation rates (%) based on CPI (General) and CFPI
|
Indices |
January 2017 (Prov.) |
December 2016 (Final) |
January 2016 (Final) |
||||||
|
Rural |
Urban |
Combd. |
Rural |
Urban |
Combd. |
Rural |
Urban |
Combd. |
|
|
CPI (General) |
3.36 |
2.90 |
3.17 |
3.83 |
2.90 |
3.41 |
6.48 |
4.81 |
5.69 |
|
CFPI |
1.07 |
-0.31 |
0.53 |
2.06 |
0.15 |
1.37 |
6.93 |
6.50 |
6.85 |
Notes: Prov. – Provisional, Combd. - Combined
Consumer Food Price Index (CFPI) for the month of January stood at 0.53%.
source: tradingeconomics.com
The prices of vegetables and pulses declined the most during the month of January from December.
Monthly changes (%) in All India CPI (General) and CFPI: Jan. 2017 over Dec. 2016
|
Indices |
Rural |
Urban |
Combined |
||||||
|
Index Value |
% Change |
Index Value |
% Change |
Index Value |
% Change |
||||
|
Jan.17 |
Dec.16 |
Jan.17 |
Dec.16 |
Jan.17 |
Dec.16 |
||||
|
CPI (General) |
132.4 |
132.8 |
-0.30 |
127.8 |
127.6 |
0.16 |
130.3 |
130.4 |
-0.08 |
|
CFPI |
132.5 |
133.9 |
-1.05 |
130.6 |
131.6 |
-0.76 |
131.8 |
133.1 |
-0.98 |
Note: Figures of January 2017 are provisional.
According to a Bloomberg poll, analysts had predicted CPI to be at 3.24% from 3.41% a month before. However, a Reuters poll of 26 economists estimated the inflation to be slowed to 3.22% in January, which would be the lowest in the index's five-year history.
Since November, when in a surprise move, the government had ban Rs 500 and Rs 1000 notes, the consumer price inflation has been below 4%.
During April-December, retail inflation averaged 4.9% and displayed a downward trend since July when it became apparent that kharif agricultural production in general, and pulses in particular would be bountiful, the Economic Survey for 2016-17 had stated.
