This inflation was mainly on account of higher food prices. The consumer price index (CPI) based on retail inflation stood at 5.03 per cent in February.
Consumer Price Index (CPI) inflation for the month of March 2020 stands at 5.91% against 2.86% on March 2019, Government of India. The inflation in the food basket was 8.76 per cent in March 2020, lower from 10.81 per cent in the previous month, as per the CPI data released by the National Statistical Office (NSO).
With heightened risk of deterioration in global growth, the RBI is likely to go for an inter-meeting repo rate cut of 25-40 basis points, says a report. On Wednesday, the World Health Organization (WHO) officially declared the coronavirus outbreak a pandemic.
Dedicating a full chapter on "Through 'Thalinomics -- The Economics of a Plate of Food in India", the survey tabled in Parliament by Finance Minister Nirmala Sitharaman analysed data from the Consumer Price Index for industrial workers for around 80 centres in 25 states/Union Territories from April 2006 to October 2019 to arrive at the cost of a 'thali'.
The previous high of CPI was 6.07 in July 2016. The Reserve Bank of India has been mandated by the government to contain inflation in the range of 4 per cent, with a margin of 2 per cent on either side.
The Pakistan Bureau of Statistics (PBS) reported on Wednesday that inflation, measured by the Consumer Price Index (CPI), edged up by 1.3 per cent over the previous month after the PBS revised its calculation methodology by setting the new base year 2015-16 instead of the previous 2007-08 financial year.
The inflation based on Consumer Price Index (CPI) was 3.99 per cent in September and 3.38 per cent in October 2018. The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month