The Softening of Inflation in India

• In September, consumer-facing prices rose by 1.5%, the lowest since June 2017.

• This is the second time in the current fiscal year that the retail inflation rate has undershot the RBI’s comfort zone of 2% to 6%.

• The softening of headline inflation rate was driven by deflation in food prices.

• The consumer food price index fell by over 2% despite oil prices rising by 18%.

• A sudden spike in core inflation, calculated after excluding food and beverages, and fuel and light, rose from 4.2% in August to 4.6% in September.

• The surge in core inflation is attributed to a spike in gold prices and housing inflation.

• The super-core inflation rate accelerated even more, from 3.3% to 3.9%.

• The softening of headline inflation is a relief for consumers, but the divergent trend of core inflation gives pause.

• Headline retail inflation is likely to undershoot the RBI’s projections, with prices likely to grow by just 0.2% over October last year.

• Rising core inflation and uncertainty on US President Donald Trump’s tariffs pose challenges for policymakers.

India Inflation Trends is important topic for Civil service exam (WBCS).

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