India Inflation November 2016

India

India: Price pressures moderate in November

December 14, 2016

In November, Indian consumer prices fell 0.15% from the previous month, which contrasted October’s 0.38% rise. The monthly decrease chiefly reflected lower prices for food and beverages. Inflation continued to fall in November, declining from October’s 4.2% to a two-year low of 3.6%. As a result, inflation is now slightly below the center of the Central Bank’s target of 4.0% plus/minus 2.0 percentage points.

The wholesale price index (WPI) in November rose 0.11% from the previous month, which contrasted October’s 0.16% decrease. The rise in the index was driven by higher prices for fuel and power products. Wholesale price inflation fell from 3.4% in October to 3.2% in November. The trend pointed up and annual average wholesale inflation rose from 1.1% in October to 1.6%.

FocusEconomics Consensus Forecast panelists expect consumer price inflation to average 4.9% in FY 2016, which is down 0.2 percentage points from last month’s forecast. In FY 2017, the panel expects consumer price inflation to average 5.0%.Panelists expect wholesale price inflation of 2.9% in FY 2016, which is up 0.1 percentage points from last month’s forecast. In FY 2017, the panel expects wholesale price inflation to average 3.6%.


Author: Angela Bouzanis, Senior Economist

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India Inflation Chart


India Inflation November 2016

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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