India’s annual Consumer Price Index (CPI), which measures inflation, rose to 5.00% in December 2014 as per the latest CPI inflation rate data released on January 12, 2015. In India, the CPI based inflation rate was higher than WPI inflation for the period.
India’s Consumer Price Index Based Inflation Rate Rises to 5.00 Percent in December 2014
New Delhi (Delhi, India), October 17, 2019
India’s annual Consumer Price Index (CPI), a benchmark that measures inflation, rose to 5.00 percent in December 2014 from a year earlier, as per the latest CPI inflation rate data release.
The Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation, Government of India, released the latest monthly and annual CPI inflation rate data on Monday, January 12, 2015.
Inflation rate defines to a general rise in the retail prices measured against a standard level of consumer purchasing power.
The final annual inflation rate, based on the Consumer Price Index, was 4.38 percent in November 2014, which was revised from the provisional inflation rate of 4.38 percent.
In December 2014, the overall retail inflation rate in rural areas was 4.71 percent yearly and in the urban areas CPI was 5.32 percent yearly.
The Consumer Price Index for all of India increased to 144.90, while the urban CPI was at 142.50, and the rural CPI was at 146.70 in December 2014 based on 2010 as the base year.
The higher CPI inflation rate in December 2014 was driven by the increased prices of vegetables, milk and milk-based products, oils and fats, condiments and spices, and fruits.
The Consumer Price Index based inflation rate was higher than the Wholesale Price Index (WPI) inflation for the period.
The Wholesale Price Index inflation rate in India, released on December 15, 2014, decreased slightly to 0.00% in November 2014 as compared to 1.77% in October 2014 based on 2004-05 as the WPI base year.
India had launched its Consumer Price Index in January 2011, which will eventually replace Wholesale Price Index as the primary indicator of inflationary trends in Asia’s third-largest economy.
The all India Consumer Price Index will be in addition to the three retail price indices. Currently, the Ministry of Labour, Government of India, prepares CPIs or retail price indexes for industrial workers (CPI IW), rural labourers (CPI RL), and agricultural labourers (CPI AL).
The Government of India uses Consumer Price Index for industrial workers to fix wages for its employees.
The annual Consumer Price Index data measures retail prices in five major groups – food, clothing, housing, fuel and power, and education across urban and rural India to provide a comprehensive reference point for the policymakers. Food comprises the highest weighting of 45.50 percent in the CPI for providing a relatively realistic view on how consumers are affected by inflation at the retail level.
The Consumer Price Index data also records price movements in services, which gives policymakers and economists a better idea of price movements at the consumer level. Services account for 55 percent of India’s economy. Services is not included in the WPI.
The data for the India’s Consumer Price Index is collected from 310 cities and towns and 1,181 rural centers by the Field Operations Division of NSSO and from selected villages by the Department of Posts. Complexity of data collection for CPI is higher than WPI. Therefore, it is necessary that the Ministry of Statistics and Programme Implementation (MOSPI) accurately estimates and reports price points.
Consumer Price Index (CPI) Break-up of Inflation Rate for December 2014 on Year-on-Year Basis
1. Cereals and Products: 3.98%
2. Pulses and Products: 7.28%
3. Sugar: -0.84%
4. Oils and Fats: -1.24%
5. Milk and Milk Products: 9.62%
6. Fruits: 14.84%
7. Condiments and Spices: 7.89%
8. Vegetables: 0.58%
9. Egg, Meat and Fish: 5.24%
10. Non-alcoholic Beverages: 5.95%
11. Prepared Meals: 6.61%
Food and Beverages: 5.00% (Total of 1 to 11)
Fuel and Electricity: 3.41%
Clothing, Bedding and Footwear: 6.51%
Housing: Data Not Released
Miscellaneous Items: Data Not Released
Expected Consumer Price Index Based Inflation Rate in India for Next 3 Months on Year-on-Year Basis
January 2015: 4.37% Yearly (Forecast)
February 2015: 4.31% Yearly (Forecast)
March 2015: 3.80% Yearly (Forecast)
Historical Consumer Price Index Based Inflation Rate in India for Last 48 Months on Year-on-Year Basis
Percent change in Index of Consumer Price over corresponding month of the previous year.
Base Year of the Consumer Price Index: 2010
December 2014 Consumer Price Index: 144.90 Inflation Rate: 5.00% Yearly
November 2014 Consumer Price Index: 145.50 Inflation Rate: 4.38% Yearly
October 2014 Consumer Price Index: 145.20 Inflation Rate: 5.52% Yearly
September 2014 Consumer Price Index: 145.00 Inflation Rate: 6.46% Yearly
August 2014 Consumer Price Index: 145.00 Inflation Rate: 7.73% Yearly
July 2014 Consumer Price Index: 143.70 Inflation Rate: 7.96% Yearly
June 2014 Consumer Price Index: 141.20 Inflation Rate: 7.31% Yearly
May 2014 Consumer Price Index: 139.90 Inflation Rate: 8.28% Yearly
April 2014 Consumer Price Index: 139.10 Inflation Rate: 8.59% Yearly
March 2014 Consumer Price Index: 138.10 Inflation Rate: 8.31% Yearly
February 2014 Consumer Price Index: 137.30 Inflation Rate: 8.03% Yearly
January 2014 Consumer Price Index: 137.40 Inflation Rate: 8.79% Yearly
December 2013 Consumer Price Index: 138.00 Inflation Rate: 9.87% Yearly
November 2013 Consumer Price Index: 139.40 Inflation Rate: 11.16% Yearly
October 2013 Consumer Price Index: 137.60 Inflation Rate: 10.17% Yearly
September 2013 Consumer Price Index: 136.20 Inflation Rate: 9.84% Yearly
August 2013 Consumer Price Index: 134.60 Inflation Rate: 9.52% Yearly
July 2013 Consumer Price Index: 133.10 Inflation Rate: 9.64% Yearly
June 2013 Consumer Price Index: 131.40 Inflation Rate: 9.87% Yearly
May 2013 Consumer Price Index: 129.20 Inflation Rate: 9.31% Yearly
April 2013 Consumer Price Index: 128.10 Inflation Rate: 9.39% Yearly
March 2013 Consumer Price Index: 127.50 Inflation Rate: 10.39% Yearly
February 2013 Consumer Price Index: 127.10 Inflation Rate: 10.91% Yearly
January 2013 Consumer Price Index: 126.30 Inflation Rate: 10.79% Yearly
December 2012 Consumer Price Index: 125.60 Inflation Rate: 10.56% Yearly
November 2012 Consumer Price Index: 125.40 Inflation Rate: 9.90% Yearly
October 2012 Consumer Price Index: 124.90 Inflation Rate: 9.75% Yearly
September 2012 Consumer Price Index: 124.00 Inflation Rate: 9.74% Yearly
August 2012 Consumer Price Index: 122.90 Inflation Rate: 10.03% Yearly
July 2012 Consumer Price Index: 121.40 Inflation Rate: 9.86% Yearly
June 2012 Consumer Price Index: 119.60 Inflation Rate: 9.93% Yearly
May 2012 Consumer Price Index: 118.20 Inflation Rate: 10.36% Yearly
April 2012 Consumer Price Index: 117.10 Inflation Rate: 10.26% Yearly
March 2012 Consumer Price Index: 115.50 Inflation Rate: 8.96% Yearly
February 2012 Consumer Price Index: 114.60 Inflation Rate: 9.14% Yearly
January 2012 Consumer Price Index: 114.00 Inflation Rate: 7.55% Yearly
December 2011 Consumer Price Index: 113.60
November 2011 Consumer Price Index: 114.10
October 2011 Consumer Price Index: 113.80
September 2011 Consumer Price Index: 113.00
August 2011 Consumer Price Index: 111.70
July 2011 Consumer Price Index: 110.50
June 2011 Consumer Price Index: 108.80
May 2011 Consumer Price Index: 107.10
April 2011 Consumer Price Index: 106.20
March 2011 Consumer Price Index: 106.00
February 2011 Consumer Price Index: 105.00
January 2011 Consumer Price Index: 106.00
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