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Tag: Consumer Price Index

Opinion

Little respite: On food price gain

April’s retail inflation data flattered to deceive. The Consumer Price Index (CPI)-based provisional headline print shows year-on-year retail price gains, across the broad spectrum of goods and services that combine to constitute the CPI, slowed fractionally to a 11-month low of 4.83%, from March’s 4.85%. This slowing, however, did little to mask the more disconcerting acceleration in food price gains. Inflation based on the Consumer Food Price Index (CFPI) quickened by 18 basis points from the preceding month’s year-on-year pace to a four-month high of 8.7%, with the month-on-month rate accelerating to 0.74%, from 0.16% in March. Rural consumers fared worse than their urban counterparts with both food and broader headline inflation reflecting faster price gains. The CPI-based reading f...