India CPI - Favourable Base In Food Drives Inflation Lower In September: ICICI Direct
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ICICI Direct Report
Consumer price index inflation for September declined sharply to 4.3% compared to 5.3% in August 2021.
Inflation print has now declined 200 basis points in the last three months from 6.3% in June 2021 to latest print at 4.3%.
The decline in headline inflation in the last two months is largely driven by a fall in food inflation.
Consumer food price index has come down sharply in the last three months from 5.1% in June 2021, 4.0% in July, 3.1% in August and now 0.7% in September 2021 .
The favourable base effect in most food items was the major factor driving food inflation lower.
The sequential decline in prices of vegetable, fruits and eggs also helped lower food inflation.
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