India Inflation October 2019

India

India: Consumer price inflation accelerates in October

November 14, 2019

In October, consumer prices rose 1.09% compared to the previous month, up from the 0.55% increase in September. The increase was largely due to more expensive food and beverages, which, as a category, account for over half of the weight of India’s consumer price basket.

Consumer price inflation accelerated to 4.6% in October from 4.0% in September. As a result, inflation surpassed the 4.0% midpoint of the Reserve Bank of India’s (RBI) target range of 2.0%–6.0%.

Wholesale prices decreased 0.74% in October compared to the previous month, down from the 0.08% fall in September. Wholesale price inflation, meanwhile, slowed to 0.2% in October from 0.3% in September.

FocusEconomics Consensus Forecast panelists expect consumer price inflation to average 3.5% in FY 2019, which is down 0.1 percentage points from last month’s forecast. In FY 2020, the panel expects consumer price inflation to average 4.0%. Meanwhile, our panel projects wholesale inflation of 2.3% for FY 2019, down 0.3 percentage points from last month’s report. In FY 2020, our panel foresees wholesale inflation averaging 2.4%.


Author:, Economist

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India Inflation Chart


India Inflation October 2019

Note: Annual and monthly variation of wholesale price index (WPI) and annual variation of consumer price index (CPI) in %.
Source: Ministry of Commerce and Industry and FocusEconomics calculations.


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