Easing Food Prices Help Soften CPI Inflation, Reports PHDCCI
Easing food prices, especially vegetables, fruits and pulses have led to softening of CPI inflation for November 2024 to 5.4% from 6.2% in October 2024, said Mr. Hemant Jain, President, PHDCCI.
Declining prices of fuel and lighting from -1.6% in October 2024 to -1.8% in November 2024, have supported the decrease in CPI, said Mr. Hemant Jain.
Easing of inflation will boost consumer sentiment and stimulate demand, supporting production activity in the country, he said.
With the further improvement in supply chains, especially of essential items, we anticipate food prices to soften further and inflation to moderate and stabilise between 4 – 4.5%, in the coming months, said Mr. Jain
