The inflation rate in India increased for the first time in 4 months

The inflation rate in India increased for the first time in 4 months
Prices for spices (21.6%), pulses (20.2%), vegetables (17.7%), including onions and tomatoes, fruits (11%) and cereals (10.3%) increased the most, while the cost of oil and fats decreased by 15%

Annual retail price inflation in India in November 2023 rose to 5.55%, the first increase in four months from 4.87% in October and compared to market expectations of 5.7%. 

According to data from the Ministry of Statistics and Program Implementation (MOSPI ).

Food inflation rose to 8.7%, the highest in three months, from 6.61% in October. The monsoon in India hit a five-year low in 2023 due to El Niño, which affected agricultural production. 

Prices for spices (21.6%), pulses (20.2%), vegetables (17.7%), including onions and tomatoes, fruits (11%), and cereals (10.3%) increased the most, while the cost of oil and fats decreased by 15%. 

At the same time, the growth in prices for food, tobacco and alcoholic beverages slowed (3.81% vs. 3.87%), clothing and footwear (3.9% vs. 4.31%), housing (3.55% vs. 3.8%), and miscellaneous goods (4.38% vs. 4.4%). In addition, spending on fuel and electricity decreased by 0.77% after a decrease from 0.39% in October.

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