India's consumer price based inflation rose to 5.49% on an annual basis in September. With this uptick, inflation has moved up from 5-year low of 3.65%. This is also the first time since July that it crossed the Reserve Bank of India's (RBI) medium-term target of 4%. Year-on-year inflation rate based on All India Consumer Price Index (CPI) for the month of September for rural and urban are 5.87% and 5.05%, respectively. It is likely that the increase in inflation rate for the month of September, 2024 is due to high base effect and weather conditions. Year-on-year inflation rate based on All India Consumer Food Price Index (CFPI) number is 9.24% (Provisional) for the month of September, 2024, up sharply from 5.66% the previous month. Corresponding inflation rate for rural and urban is 9.08% and 9.56%, respectively.
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