India had an inflation rate of 5.22% in December 2024, computed from the All-India Consumer Price Index, against the figure of the previous month.
5.76% was assigned for rural and a little less-for the cities across the country-4.58% according to the Ministry of Statistics and Programme Implementation.
In December 2024, food prices, all over India, rose, after which the food price index figures were at 8.39% lower than those for November 2024 at 9.04%.
Food inflation has subsequently been registered at 8.65% in the rural area and 7.90% for the urban area. Decrease in food inflation seems also a general decline in inflation since the midyear, with a low in December registering the lowest point of the last four months.
Last month also saw a fall in housing inflation, which posted at 2.71%, a slight drop from November's record of 2.87%. This index covers urban regions only and reflects the fluctuation in housing prices.
Several other commodities saw dramatic price rises: peas (vegetables) were up 89.12%; potatoes advanced 68.23%; garlic surged 58.17%; coconut oil climbed 45.41%; and cauliflower rose 39.42%. Some commodities showed deflation: jeera was down (-34.69%), ginger (-22.93%), dry chillies (-10.32%), and LPG (-9.29%).
Indeed, month-on-month figures for December 2024 also show a deceleration in the CPI for rural and urban areas. Combined CPI fell 0.56% and rural CPI registered a drop of 0.50%. In contrast, urban CPI declined by 0.62%. Food inflation also declined, with CFPI down 1.30% in rural, 1.73% in urban, and overall 1.48%. The next release of CPI data would take place on February 12, 2025.