{"id":34039,"date":"2018-10-30T15:36:09","date_gmt":"2018-10-30T10:06:09","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34039"},"modified":"2018-10-30T15:36:09","modified_gmt":"2018-10-30T10:06:09","slug":"food-prices-spur-cpi-inflation-to-3-58","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/food-prices-spur-cpi-inflation-to-3-58\/","title":{"rendered":"Food prices spur CPI inflation to 3.58%\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Economy\/retail-inflation-rises-to-7-month-high-of-358-in-october\/article20382197.ece\"><b>Food prices spur CPI inflation to 3.58%<\/b><\/a><b>\u00a0<\/b><\/p>\n<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">According to the recently released data by the Ministry of Statistics and Programme Implementation, retail inflation accelerated to 3.58% in October on the back of rising food and fuel prices.<\/span><\/p>\n<p><b>Introduction:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consumer price index (CPI)-based inflation rose to this financial year&#8217;s highest rate of 3.58 per cent in October, from 3.28 per cent in September, with food and fuel prices increasing at a higher pace.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This could stop the Reserve Bank (RBI) from cutting rates in its policy review next month to spur falling industrial growth.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Inflation as measured by the Consumer Price Index(CPI) was 3.28% in September and as low as 1.46% in June.<\/span><span style=\"font-weight: 400;\"> \u00a0\u00a0<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The food and beverages component of CPI saw a growth of 2.26% in October, the fastest pace since March, and up from 1.76% in September.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This was mainly due to a sharp uptick in vegetable prices.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Global crude prices are firming up and will have a longer term adverse impact on Indian inflation.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In October, the RBI\u2019s Monetary Policy Committee had said that retail inflation was broadly moving along expected lines and projected that the rate would quicken to 4.2% to 4.6% over the following six months.<\/span><\/li>\n<\/ul>\n<p><b>Consumer Price Index (CPI):<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consumer price index (CPI) is a statistic used to measure average price of a basket of commonly used goods and services in a period relative to some base period.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A consumer price index (CPI) measures change in the price level of market basket of consumer goods and services purchased by households.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Sub-categories of goods and services, being combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the index.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It is of one of several price indices calculated by most national statistical agencies.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The annual percentage change in a CPI is used as a measure of inflation.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In most countries, the CPI, along with the population census, is one of the most closely watched national economic statistics.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Food prices spur CPI inflation to 3.58%\u00a0 Context: According to the recently released data by the Ministry of Statistics and Programme Implementation, retail inflation accelerated to 3.58% in October on the back of rising food and fuel prices. Introduction: Consumer price index (CPI)-based inflation rose to this financial year&#8217;s highest rate of 3.58 per cent&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/food-prices-spur-cpi-inflation-to-3-58\/\">Continue reading <span class=\"screen-reader-text\">Food prices spur CPI inflation to 3.58%\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34039","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704707931},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34039"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34039\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}